https://www.taxtmi.com/caselaws?id=281144 The Tribunal ruled in favor of the Assessee, canceling the penalty imposed under section 271(1)(c) of the I.T. Act for A.Ys. 2010-2011 and 2011-2012. The Tribunal found that the show cause notices lacked specificity in initiating penalty proceedings, failing to specify the relevant limb of Section 271(1)(c) under which the penalty was imposed. Relying on legal precedents, including judgments of the Hon'ble Karnataka High Court and the Hon'ble Supreme Court, the Tribunal held that the lack of specificity rendered the penalty invalid. The decision aligned with previous rulings emphasizing the importance of clarity in penalty initiation under the I.T. Act. en-us Wed, 06 Feb 2019 00:00:00 +0530 Wed, 05 Jun 2019 06:22:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281144 The Tribunal ruled in favor of the Assessee, canceling the penalty imposed under section 271(1)(c) of the I.T. Act for A.Ys. 2010-2011 and 2011-2012. The Tribunal found that the show cause notices lacked specificity in initiating penalty proceedings, failing to specify the relevant limb of Section 271(1)(c) under which the penalty was imposed. Relying on legal precedents, including judgments of the Hon'ble Karnataka High Court and the Hon'ble Supreme Court, the Tribunal held that the lack of specificity rendered the penalty invalid. The decision aligned with previous rulings emphasizing the importance of clarity in penalty initiation under the I.T. Act. Case-Laws Income Tax Wed, 06 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281144