https://www.taxtmi.com/caselaws?id=378855 The Tribunal allowed the assessee's appeal for Assessment Year 2014-15, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found the notice issued for penalty proceedings lacked specificity on the nature of default, rendering the penalty invalid based on legal precedents from the Karnataka High Court. The decision to cancel the penalty was primarily influenced by the defective notice, overshadowing other arguments raised by the appellant regarding the assessment order. en-us Fri, 05 Apr 2019 00:00:00 +0530 Tue, 23 Apr 2019 08:24:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378855 The Tribunal allowed the assessee's appeal for Assessment Year 2014-15, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found the notice issued for penalty proceedings lacked specificity on the nature of default, rendering the penalty invalid based on legal precedents from the Karnataka High Court. The decision to cancel the penalty was primarily influenced by the defective notice, overshadowing other arguments raised by the appellant regarding the assessment order. Case-Laws Income Tax Fri, 05 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378855