https://www.taxtmi.com/caselaws?id=289794 The Bombay High Court addressed the penalty imposition under Section 271(1)(c) of the Act for disclosed gifts in the original income return. It emphasized the necessity of specifying the nature of the breach in penalty proceedings to uphold jurisdiction and ensure the proper application of the law. The Court highlighted the importance of thoroughly reviewing facts and legal provisions to determine the validity and justifiability of penalties in tax matters. en-us Mon, 12 Feb 2018 00:00:00 +0530 Sat, 22 Aug 2020 09:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289794 The Bombay High Court addressed the penalty imposition under Section 271(1)(c) of the Act for disclosed gifts in the original income return. It emphasized the necessity of specifying the nature of the breach in penalty proceedings to uphold jurisdiction and ensure the proper application of the law. The Court highlighted the importance of thoroughly reviewing facts and legal provisions to determine the validity and justifiability of penalties in tax matters. Case-Laws Income Tax Mon, 12 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289794