https://www.taxtmi.com/caselaws?id=377378 The Tribunal set aside the penalty imposed on the assessee under section 271(1)(c) of the Income Tax Act, 1961, due to the vague charge in the notice and penalty order, which failed to specify the exact grounds for the penalty. The Tribunal emphasized the importance of clarity in charging penalties and noted that the assessee had filed a revised return before the completion of assessment, disclosing the previously omitted income components. As a result, the appeal was allowed, and the penalty was revoked on 26th March 2019. en-us Tue, 26 Mar 2019 00:00:00 +0530 Thu, 28 Mar 2019 07:08:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377378 The Tribunal set aside the penalty imposed on the assessee under section 271(1)(c) of the Income Tax Act, 1961, due to the vague charge in the notice and penalty order, which failed to specify the exact grounds for the penalty. The Tribunal emphasized the importance of clarity in charging penalties and noted that the assessee had filed a revised return before the completion of assessment, disclosing the previously omitted income components. As a result, the appeal was allowed, and the penalty was revoked on 26th March 2019. Case-Laws Income Tax Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377378