https://www.taxtmi.com/caselaws?id=372785 The tribunal quashed the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2006-07. The ambiguity in the penalty charge at the initiation stage, where the Assessing Officer failed to specify the exact grounds for penalty imposition, was deemed a violation of natural justice principles. As a result, the penalty was annulled, highlighting the necessity of clarity in specifying charges for penalty imposition to uphold fairness and natural justice principles. en-us Thu, 15 Nov 2018 00:00:00 +0530 Sat, 29 Dec 2018 11:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372785 The tribunal quashed the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2006-07. The ambiguity in the penalty charge at the initiation stage, where the Assessing Officer failed to specify the exact grounds for penalty imposition, was deemed a violation of natural justice principles. As a result, the penalty was annulled, highlighting the necessity of clarity in specifying charges for penalty imposition to uphold fairness and natural justice principles. Case-Laws Income Tax Thu, 15 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372785