https://www.taxtmi.com/caselaws?id=380964 The Tribunal found the penalty under Section 271(1)(c) invalid due to vague penalty notices and the bona fide nature of the assessee's claim of a business loss. The penalty of Rs. 1,54,50,000/- was deleted, and the assessee's appeal was allowed on 29th May 2019. en-us Wed, 29 May 2019 00:00:00 +0530 Sat, 01 Jun 2019 07:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380964 The Tribunal found the penalty under Section 271(1)(c) invalid due to vague penalty notices and the bona fide nature of the assessee's claim of a business loss. The penalty of Rs. 1,54,50,000/- was deleted, and the assessee's appeal was allowed on 29th May 2019. Case-Laws Income Tax Wed, 29 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380964