https://www.taxtmi.com/caselaws?id=358153 The Tribunal canceled the penalty of Rs. 22,97,509 imposed under Section 271(1)(c) of the Income Tax Act for AY 2012-13 due to a defective notice issued under Section 274 read with Section 271. The Tribunal relied on judicial precedents, including the Karnataka High Court's decision in SSA's Emerald Meadows, upheld by the Supreme Court, which emphasized the necessity of a clear charge in the penalty notice. The appeal was allowed in favor of the assessee, highlighting the invalidation of penalty proceedings based on a defective notice. en-us Wed, 04 Apr 2018 00:00:00 +0530 Fri, 06 Apr 2018 07:46:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358153 The Tribunal canceled the penalty of Rs. 22,97,509 imposed under Section 271(1)(c) of the Income Tax Act for AY 2012-13 due to a defective notice issued under Section 274 read with Section 271. The Tribunal relied on judicial precedents, including the Karnataka High Court's decision in SSA's Emerald Meadows, upheld by the Supreme Court, which emphasized the necessity of a clear charge in the penalty notice. The appeal was allowed in favor of the assessee, highlighting the invalidation of penalty proceedings based on a defective notice. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358153