https://www.taxtmi.com/caselaws?id=384583 The Tribunal canceled the penalty imposed on the assessee after finding the penalty notice issued by the Assessing Officer to be vague and lacking specificity on the grounds for penalty under section 271(1)(c) of the Income Tax Act, 1961. Relying on legal precedents and emphasizing the importance of clear and specific grounds in penalty notices, the Tribunal concluded that the penalty order was not sustainable, leading to the cancellation of the penalty and allowing the appeal in favor of the assessee. en-us Wed, 14 Aug 2019 00:00:00 +0530 Sat, 17 Aug 2019 08:04:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384583 The Tribunal canceled the penalty imposed on the assessee after finding the penalty notice issued by the Assessing Officer to be vague and lacking specificity on the grounds for penalty under section 271(1)(c) of the Income Tax Act, 1961. Relying on legal precedents and emphasizing the importance of clear and specific grounds in penalty notices, the Tribunal concluded that the penalty order was not sustainable, leading to the cancellation of the penalty and allowing the appeal in favor of the assessee. Case-Laws Income Tax Wed, 14 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384583