https://www.taxtmi.com/caselaws?id=379371 The Tribunal found that the penalty notice issued under Section 274 read with Section 271(1)(c) of the Income Tax Act was defective as it did not specify the charge of offense committed by the Assessee. Consequently, the Tribunal held that the imposition of penalty could not be sustained and directed the cancellation of the penalty of Rs. 3,60,499/- levied by the Assessing Officer. The decision was influenced by the principle that when there are conflicting judicial views, the view favorable to the Assessee should be adopted. en-us Fri, 26 Apr 2019 00:00:00 +0530 Wed, 01 May 2019 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379371 The Tribunal found that the penalty notice issued under Section 274 read with Section 271(1)(c) of the Income Tax Act was defective as it did not specify the charge of offense committed by the Assessee. Consequently, the Tribunal held that the imposition of penalty could not be sustained and directed the cancellation of the penalty of Rs. 3,60,499/- levied by the Assessing Officer. The decision was influenced by the principle that when there are conflicting judicial views, the view favorable to the Assessee should be adopted. Case-Laws Income Tax Fri, 26 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379371