https://www.taxtmi.com/caselaws?id=388726 The Appellate Tribunal focused on the issue of imposing a penalty under section 271(1)(c) of the Income Tax Act without specifying the charge clearly. The Tribunal deemed the penalty imposed without a specific charge as illegal and ordered its deletion, citing the necessity for penalties to comply with principles of natural justice and specify grounds clearly. Other issues raised by the appellant, including the penalty on excess stock of marble and estimated gross profit, were not extensively addressed in the judgment. en-us Fri, 19 Jul 2019 00:00:00 +0530 Thu, 21 Nov 2019 12:58:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388726 The Appellate Tribunal focused on the issue of imposing a penalty under section 271(1)(c) of the Income Tax Act without specifying the charge clearly. The Tribunal deemed the penalty imposed without a specific charge as illegal and ordered its deletion, citing the necessity for penalties to comply with principles of natural justice and specify grounds clearly. Other issues raised by the appellant, including the penalty on excess stock of marble and estimated gross profit, were not extensively addressed in the judgment. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388726