https://www.taxtmi.com/caselaws?id=372922 The ITAT allowed the appeal filed by the assessee, setting aside the penalty of Rs. 2,04,970 imposed under section 271(1)(c) for the Assessment Year 2011-12. The ITAT held that the penalty notice lacked a clear and specific charge, indicating a lack of application of mind by the AO. As the penalty was deemed invalid due to this deficiency, the ITAT did not delve into other contentions raised by the assessee on the case's merits. Consequently, the penalty was deleted, emphasizing the importance of clarity in penalty notices for ensuring the assessee's right to defend against allegations of income concealment or furnishing inaccurate particulars. en-us Tue, 07 Aug 2018 00:00:00 +0530 Thu, 03 Jan 2019 08:11:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372922 The ITAT allowed the appeal filed by the assessee, setting aside the penalty of Rs. 2,04,970 imposed under section 271(1)(c) for the Assessment Year 2011-12. The ITAT held that the penalty notice lacked a clear and specific charge, indicating a lack of application of mind by the AO. As the penalty was deemed invalid due to this deficiency, the ITAT did not delve into other contentions raised by the assessee on the case's merits. Consequently, the penalty was deleted, emphasizing the importance of clarity in penalty notices for ensuring the assessee's right to defend against allegations of income concealment or furnishing inaccurate particulars. Case-Laws Income Tax Tue, 07 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372922