https://www.taxtmi.com/caselaws?id=365373 The Tribunal held that the penalty notice issued under Section 274 read with Section 271(1)(c) of the Income Tax Act was defective due to the lack of specification of the charge. Consequently, the imposition of penalty could not be sustained. The Tribunal set aside the penalty levied by the Assessing Officer and canceled the penalty of Rs. 41,09,182/- for the Assessment Year 2012-13. The appeal filed by the Assessee was allowed. en-us Fri, 10 Aug 2018 00:00:00 +0530 Thu, 16 Aug 2018 07:51:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365373 The Tribunal held that the penalty notice issued under Section 274 read with Section 271(1)(c) of the Income Tax Act was defective due to the lack of specification of the charge. Consequently, the imposition of penalty could not be sustained. The Tribunal set aside the penalty levied by the Assessing Officer and canceled the penalty of Rs. 41,09,182/- for the Assessment Year 2012-13. The appeal filed by the Assessee was allowed. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365373