https://www.taxtmi.com/caselaws?id=272996 The Tribunal held that the penalty proceedings and subsequent penalty imposed under Section 271(1)(c) were invalid due to the non-specific nature of the 'Show cause' notice. The penalty of Rs. 12,14,140/- was quashed, and the appeal by the assessee was allowed. The Tribunal did not delve into the merits of the penalty but focused on the procedural deficiency in the penalty initiation process. en-us Fri, 23 Mar 2018 00:00:00 +0530 Wed, 30 May 2018 09:51:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272996 The Tribunal held that the penalty proceedings and subsequent penalty imposed under Section 271(1)(c) were invalid due to the non-specific nature of the 'Show cause' notice. The penalty of Rs. 12,14,140/- was quashed, and the appeal by the assessee was allowed. The Tribunal did not delve into the merits of the penalty but focused on the procedural deficiency in the penalty initiation process. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272996