https://www.taxtmi.com/caselaws?id=273382 The Tribunal set aside the penalty order due to the invalidity of the notice, as it did not clearly specify the grounds for initiating the penalty proceedings under the Income Tax Act. The appeal by the Revenue, seeking to challenge the reduction of penalty from 30% to 10%, became infructuous following the Tribunal's decision. The judgment underscored the importance of providing clear and specific grounds in penalty notices to ensure the principles of natural justice are upheld. en-us Thu, 05 Apr 2018 00:00:00 +0530 Fri, 22 Jun 2018 06:52:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273382 The Tribunal set aside the penalty order due to the invalidity of the notice, as it did not clearly specify the grounds for initiating the penalty proceedings under the Income Tax Act. The appeal by the Revenue, seeking to challenge the reduction of penalty from 30% to 10%, became infructuous following the Tribunal's decision. The judgment underscored the importance of providing clear and specific grounds in penalty notices to ensure the principles of natural justice are upheld. Case-Laws Income Tax Thu, 05 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273382