https://www.taxtmi.com/caselaws?id=392502 The Tribunal held that the penalty notice issued under Section 274 read with Section 271AAB was defective due to lack of specificity and thus invalid. Consequently, the penalty proceedings were quashed, and the penalty of Rs. 2,04,900 was deleted. The appeal was allowed on legal grounds, making other arguments on the penalty's merits irrelevant. en-us Wed, 19 Feb 2020 00:00:00 +0530 Fri, 21 Feb 2020 13:29:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392502 The Tribunal held that the penalty notice issued under Section 274 read with Section 271AAB was defective due to lack of specificity and thus invalid. Consequently, the penalty proceedings were quashed, and the penalty of Rs. 2,04,900 was deleted. The appeal was allowed on legal grounds, making other arguments on the penalty's merits irrelevant. Case-Laws Income Tax Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392502