https://www.taxtmi.com/caselaws?id=366014 The ITAT Cochin allowed the appeal filed by the assessee, emphasizing the importance of adherence to procedural requirements in penalty proceedings under the Income Tax Act. The judgment highlighted the significance of clearly specifying the grounds for imposing penalties to ensure procedural fairness and compliance with legal provisions. The penalty imposed under section 271(1)(c) was quashed due to the lack of clarity in the notice issued by the AO, rendering the penalty proceedings invalid. en-us Tue, 14 Aug 2018 00:00:00 +0530 Tue, 28 Aug 2018 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366014 The ITAT Cochin allowed the appeal filed by the assessee, emphasizing the importance of adherence to procedural requirements in penalty proceedings under the Income Tax Act. The judgment highlighted the significance of clearly specifying the grounds for imposing penalties to ensure procedural fairness and compliance with legal provisions. The penalty imposed under section 271(1)(c) was quashed due to the lack of clarity in the notice issued by the AO, rendering the penalty proceedings invalid. Case-Laws Income Tax Tue, 14 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366014