https://www.taxtmi.com/caselaws?id=382602 The ITAT allowed the appeal, canceling the penalty under section 271(1)(c) of the I.T. Act, 1961, due to a legal flaw in the notice issued by the A.O. The penalty proceedings were found to be vitiated as the notice did not specify the grounds for initiating the penalty, following the decision of the Hon'ble Karnataka High Court and the Hon'ble Supreme Court. Consequently, the ITAT set aside the penalty, ruling in favor of the assessee. en-us Thu, 04 Jul 2019 00:00:00 +0530 Sat, 06 Jul 2019 08:00:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382602 The ITAT allowed the appeal, canceling the penalty under section 271(1)(c) of the I.T. Act, 1961, due to a legal flaw in the notice issued by the A.O. The penalty proceedings were found to be vitiated as the notice did not specify the grounds for initiating the penalty, following the decision of the Hon'ble Karnataka High Court and the Hon'ble Supreme Court. Consequently, the ITAT set aside the penalty, ruling in favor of the assessee. Case-Laws Income Tax Thu, 04 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382602