https://www.taxtmi.com/caselaws?id=357499 The Tribunal ruled in favor of the assessee, finding that the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961 could not be upheld due to a defective show cause notice issued under Section 274 of the Act. The Tribunal emphasized the importance of specifying the charge in the notice, following the precedent set by the Karnataka High Court. As a result, the penalty was deleted, and the assessee's appeal was allowed. en-us Wed, 21 Mar 2018 00:00:00 +0530 Sat, 24 Mar 2018 08:39:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357499 The Tribunal ruled in favor of the assessee, finding that the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961 could not be upheld due to a defective show cause notice issued under Section 274 of the Act. The Tribunal emphasized the importance of specifying the charge in the notice, following the precedent set by the Karnataka High Court. As a result, the penalty was deleted, and the assessee's appeal was allowed. Case-Laws Income Tax Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357499