https://www.taxtmi.com/caselaws?id=387692 The Tribunal allowed the appeal of the assessee, ruling in favor of deleting the penalty imposed by the AO under section 271(1)(c). The decision was based on the lack of specific grounds for penalty initiation in the show-cause notice, indicating a failure by the AO to apply proper discretion. The Tribunal emphasized the importance of clarity and specific findings in penalty proceedings, aligning with the principles set by the Hon'ble Rajasthan High Court in similar cases. en-us Fri, 25 Oct 2019 00:00:00 +0530 Tue, 29 Oct 2019 19:56:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387692 The Tribunal allowed the appeal of the assessee, ruling in favor of deleting the penalty imposed by the AO under section 271(1)(c). The decision was based on the lack of specific grounds for penalty initiation in the show-cause notice, indicating a failure by the AO to apply proper discretion. The Tribunal emphasized the importance of clarity and specific findings in penalty proceedings, aligning with the principles set by the Hon'ble Rajasthan High Court in similar cases. Case-Laws Income Tax Fri, 25 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387692