https://www.taxtmi.com/caselaws?id=382180 The ITAT allowed the appeal, quashing the penalty under Section 271(1)(c) of the Income Tax Act. The penalty notice was deemed invalid as it failed to specify the limb of the section for penalty initiation. Consequently, the penalty of &8377;29,93,984 was canceled, and the appeal succeeded based on this ground. en-us Tue, 25 Jun 2019 00:00:00 +0530 Thu, 27 Jun 2019 07:39:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382180 The ITAT allowed the appeal, quashing the penalty under Section 271(1)(c) of the Income Tax Act. The penalty notice was deemed invalid as it failed to specify the limb of the section for penalty initiation. Consequently, the penalty of &8377;29,93,984 was canceled, and the appeal succeeded based on this ground. Case-Laws Income Tax Tue, 25 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382180