https://www.taxtmi.com/caselaws?id=359319 The ITAT allowed the appeal of the assessee, emphasizing the necessity of clearly specifying the grounds for penalty initiation in the notice u/s 274 r.w.s. 271 of the Act. The judgment underscored the significance of adhering to legal requirements in penalty proceedings and ensuring coherence between the reasons stated in the notice and the penalty imposed. The penalty imposition was deemed unsustainable due to the lack of clarity in the notice, leading to the deletion of the penalty. en-us Thu, 05 Apr 2018 00:00:00 +0530 Fri, 27 Apr 2018 08:27:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359319 The ITAT allowed the appeal of the assessee, emphasizing the necessity of clearly specifying the grounds for penalty initiation in the notice u/s 274 r.w.s. 271 of the Act. The judgment underscored the significance of adhering to legal requirements in penalty proceedings and ensuring coherence between the reasons stated in the notice and the penalty imposed. The penalty imposition was deemed unsustainable due to the lack of clarity in the notice, leading to the deletion of the penalty. Case-Laws Income Tax Thu, 05 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359319