https://www.taxtmi.com/caselaws?id=358134 The Tribunal allowed the appeal, directing the deletion of the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found the penalty notice deficient as it did not specify the limb of Section 271(1)(c) under which the penalty proceedings were initiated, following the precedent set in CIT vs. Manjunatha Cotton & Ginning Factory. The judgment emphasized the necessity for the Assessing Officer to explicitly state the grounds for penalty in the notice to ensure validity. Consequently, the penalty was deemed invalid, and the appeal of the assessee was successful, resulting in the penalty being set aside. en-us Tue, 30 Jan 2018 00:00:00 +0530 Fri, 06 Apr 2018 07:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358134 The Tribunal allowed the appeal, directing the deletion of the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found the penalty notice deficient as it did not specify the limb of Section 271(1)(c) under which the penalty proceedings were initiated, following the precedent set in CIT vs. Manjunatha Cotton & Ginning Factory. The judgment emphasized the necessity for the Assessing Officer to explicitly state the grounds for penalty in the notice to ensure validity. Consequently, the penalty was deemed invalid, and the appeal of the assessee was successful, resulting in the penalty being set aside. Case-Laws Income Tax Tue, 30 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358134