https://www.taxtmi.com/caselaws?id=366265 The High Court of Calcutta upheld the decision of the Income Tax Appellate Tribunal invalidating a penalty order under Section 271(1)(c) of the Income Tax Act, 1961 for undisclosed income and incorrect deductions for five assessment years. The Court ruled that the penalty could not be sustained due to a defective notice lacking a specific charge against the assessee, rejecting the Revenue's plea for remand to rectify the technical flaw. The Court found no error of law, dismissed the appeal, denied the stay petition, and awarded no costs. en-us Wed, 18 Jul 2018 00:00:00 +0530 Sat, 01 Sep 2018 05:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366265 The High Court of Calcutta upheld the decision of the Income Tax Appellate Tribunal invalidating a penalty order under Section 271(1)(c) of the Income Tax Act, 1961 for undisclosed income and incorrect deductions for five assessment years. The Court ruled that the penalty could not be sustained due to a defective notice lacking a specific charge against the assessee, rejecting the Revenue's plea for remand to rectify the technical flaw. The Court found no error of law, dismissed the appeal, denied the stay petition, and awarded no costs. Case-Laws Income Tax Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366265