https://www.taxtmi.com/caselaws?id=396023 The Tribunal set aside the penalty imposed under section 271(1)(c) of the I.T. Act, 1961 for the A.Y. 1996-1997. The Tribunal found that the penalty proceedings were flawed as the assessing officer did not specify the grounds for penalty initiation in the assessment order or the notice issued to the Assessee. Due to the lack of clarity and specificity in the notice and absence of recorded satisfaction in the assessment order, the penalty was deemed not leviable. The Tribunal emphasized the importance of clearly stating grounds for penalty initiation to ensure fairness and compliance with legal requirements. en-us Sun, 16 Feb 2020 00:00:00 +0530 Thu, 18 Jun 2020 10:48:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396023 The Tribunal set aside the penalty imposed under section 271(1)(c) of the I.T. Act, 1961 for the A.Y. 1996-1997. The Tribunal found that the penalty proceedings were flawed as the assessing officer did not specify the grounds for penalty initiation in the assessment order or the notice issued to the Assessee. Due to the lack of clarity and specificity in the notice and absence of recorded satisfaction in the assessment order, the penalty was deemed not leviable. The Tribunal emphasized the importance of clearly stating grounds for penalty initiation to ensure fairness and compliance with legal requirements. Case-Laws Income Tax Sun, 16 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396023