https://www.taxtmi.com/caselaws?id=383340 The tribunal ruled in favor of the assessee and dismissed the Revenue's appeals regarding penalties imposed under section 271(1)(c) of the Income Tax Act. The tribunal emphasized the necessity of clear charges and proper procedures in penalty proceedings, following legal precedents. Penalties lacking specific charges or based on inconsistent grounds were deemed unsustainable. Therefore, all penalties imposed under section 271(1)(c) were deleted for both the assessee and the Revenue. The decision was pronounced on July 19, 2019, in favor of the assessee. en-us Fri, 19 Jul 2019 00:00:00 +0530 Mon, 22 Jul 2019 08:19:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383340 The tribunal ruled in favor of the assessee and dismissed the Revenue's appeals regarding penalties imposed under section 271(1)(c) of the Income Tax Act. The tribunal emphasized the necessity of clear charges and proper procedures in penalty proceedings, following legal precedents. Penalties lacking specific charges or based on inconsistent grounds were deemed unsustainable. Therefore, all penalties imposed under section 271(1)(c) were deleted for both the assessee and the Revenue. The decision was pronounced on July 19, 2019, in favor of the assessee. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383340