https://www.taxtmi.com/caselaws?id=372735 The Tribunal canceled the penalty order of Rs. 32,88,663 imposed under section 271(1)(c) of the Income Tax Act, 1961, due to the lack of specificity in the penalty notice, which failed to clearly indicate the charge against the assessee. Relying on legal precedents and emphasizing the necessity of clearly specifying grounds for penalties, the Tribunal found the penalty unsustainable, citing a lack of application of mind by the Assessing Officer. The appeal of the assessee was allowed, leading to the cancellation of the penalty, following a decision pronounced on 17th December 2018 in New Delhi. en-us Mon, 17 Dec 2018 00:00:00 +0530 Fri, 28 Dec 2018 11:35:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372735 The Tribunal canceled the penalty order of Rs. 32,88,663 imposed under section 271(1)(c) of the Income Tax Act, 1961, due to the lack of specificity in the penalty notice, which failed to clearly indicate the charge against the assessee. Relying on legal precedents and emphasizing the necessity of clearly specifying grounds for penalties, the Tribunal found the penalty unsustainable, citing a lack of application of mind by the Assessing Officer. The appeal of the assessee was allowed, leading to the cancellation of the penalty, following a decision pronounced on 17th December 2018 in New Delhi. Case-Laws Income Tax Mon, 17 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372735