https://www.taxtmi.com/caselaws?id=368455 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal against the deletion of the penalty under section 271(1)(c) of the Income Tax Act for the Assessment Year 2006-07. The Tribunal found the penalty order was beyond the limitation period, lacked merit due to voluntary disclosure of additional income by the assessee, and was invalidated by the vague penalty notice that failed to specify the exact charge. The appeal was dismissed, affirming that the penalty proceedings were flawed and not sustainable. en-us Fri, 28 Sep 2018 00:00:00 +0530 Tue, 09 Oct 2018 06:44:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368455 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal against the deletion of the penalty under section 271(1)(c) of the Income Tax Act for the Assessment Year 2006-07. The Tribunal found the penalty order was beyond the limitation period, lacked merit due to voluntary disclosure of additional income by the assessee, and was invalidated by the vague penalty notice that failed to specify the exact charge. The appeal was dismissed, affirming that the penalty proceedings were flawed and not sustainable. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368455