https://www.taxtmi.com/caselaws?id=358684 The Tribunal found the penalty notice issued under Section 274 of the Income Tax Act to be defective as it did not specify the charge against the Assessee. Relying on the decision of the Karnataka High Court, the Tribunal held that a defective notice renders the penalty invalid. The Tribunal canceled the penalty of Rs. 32,54,178/- imposed on the Assessee, as confirmed by the CIT-A. Consequently, the appeal was allowed, and the penalty under Section 271(1)(c) of the Income Tax Act was revoked. en-us Fri, 13 Apr 2018 00:00:00 +0530 Tue, 17 Apr 2018 06:20:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358684 The Tribunal found the penalty notice issued under Section 274 of the Income Tax Act to be defective as it did not specify the charge against the Assessee. Relying on the decision of the Karnataka High Court, the Tribunal held that a defective notice renders the penalty invalid. The Tribunal canceled the penalty of Rs. 32,54,178/- imposed on the Assessee, as confirmed by the CIT-A. Consequently, the appeal was allowed, and the penalty under Section 271(1)(c) of the Income Tax Act was revoked. Case-Laws Income Tax Fri, 13 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358684