https://www.taxtmi.com/caselaws?id=359240 The Tribunal quashed the penalty orders under Section 271(1)(c) of the Income Tax Act due to the Assessing Officer's failure to specify the grounds for penalty in the notice, following precedents emphasizing the importance of clarity in penalty notices for natural justice. As a result, the confirmation of penalty on additional income declared by the assessee became irrelevant. The Tribunal highlighted the significance of procedural accuracy in penalty proceedings, emphasizing the need for clear specification of penalty grounds in show-cause notices to uphold principles of natural justice. en-us Mon, 23 Apr 2018 00:00:00 +0530 Thu, 26 Apr 2018 09:37:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359240 The Tribunal quashed the penalty orders under Section 271(1)(c) of the Income Tax Act due to the Assessing Officer's failure to specify the grounds for penalty in the notice, following precedents emphasizing the importance of clarity in penalty notices for natural justice. As a result, the confirmation of penalty on additional income declared by the assessee became irrelevant. The Tribunal highlighted the significance of procedural accuracy in penalty proceedings, emphasizing the need for clear specification of penalty grounds in show-cause notices to uphold principles of natural justice. Case-Laws Income Tax Mon, 23 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359240