https://www.taxtmi.com/caselaws?id=274871 The ITAT allowed the Assessee's appeals, holding that penalties imposed under section 271(1)(c) of the Income Tax Act, 1961 were invalid due to show cause notices lacking specific charges. Relying on legal precedents, including decisions by various High Courts and the ITAT, it was concluded that penalties based on defective notices were unsustainable. The importance of clear and specific notices in penalty proceedings was emphasized, leading to the cancellation of the penalties imposed on the Assessee. en-us Wed, 05 Apr 2017 00:00:00 +0530 Sat, 08 Sep 2018 08:05:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274871 The ITAT allowed the Assessee's appeals, holding that penalties imposed under section 271(1)(c) of the Income Tax Act, 1961 were invalid due to show cause notices lacking specific charges. Relying on legal precedents, including decisions by various High Courts and the ITAT, it was concluded that penalties based on defective notices were unsustainable. The importance of clear and specific notices in penalty proceedings was emphasized, leading to the cancellation of the penalties imposed on the Assessee. Case-Laws Income Tax Wed, 05 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274871