https://www.taxtmi.com/caselaws?id=286297 The ITAT allowed the appeal, ruling in favor of the assessee by deleting the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The ITAT found that the penalty notice lacked specificity in specifying the charge, following legal precedents emphasizing the importance of such specification. Citing decisions of the Supreme Court and Karnataka High Court, the ITAT concluded that the penalty proceedings were invalid. As a result, the penalty imposed by the AO and upheld by the ld. CIT(A) was deleted, providing relief to the assessee. en-us Wed, 16 Jan 2019 00:00:00 +0530 Thu, 20 Feb 2020 10:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286297 The ITAT allowed the appeal, ruling in favor of the assessee by deleting the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The ITAT found that the penalty notice lacked specificity in specifying the charge, following legal precedents emphasizing the importance of such specification. Citing decisions of the Supreme Court and Karnataka High Court, the ITAT concluded that the penalty proceedings were invalid. As a result, the penalty imposed by the AO and upheld by the ld. CIT(A) was deleted, providing relief to the assessee. Case-Laws Income Tax Wed, 16 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286297