https://www.taxtmi.com/caselaws?id=381668 The Tribunal allowed the appeal of the assessee, canceling the penalty imposed under section 271(1)(c) for alleged tax evasion. The Tribunal found the show cause notice issued by the Assessing Officer to be defective for not clearly specifying the charge against the assessee as required by law. As a result, the penalty imposed by the AO and confirmed by the CIT(A) was deemed unsustainable, leading to the cancellation of the penalty and a favorable outcome for the assessee. en-us Fri, 14 Jun 2019 00:00:00 +0530 Mon, 17 Jun 2019 07:11:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381668 The Tribunal allowed the appeal of the assessee, canceling the penalty imposed under section 271(1)(c) for alleged tax evasion. The Tribunal found the show cause notice issued by the Assessing Officer to be defective for not clearly specifying the charge against the assessee as required by law. As a result, the penalty imposed by the AO and confirmed by the CIT(A) was deemed unsustainable, leading to the cancellation of the penalty and a favorable outcome for the assessee. Case-Laws Income Tax Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381668