https://www.taxtmi.com/caselaws?id=398801 The ITAT allowed the Assessee's appeal, cancelling the penalty under section 271(1)(c) of the I.T. Act, 1961, for A.Y. 2011-2012. The Tribunal found the show cause notice defective, as it failed to specify whether the penalty was for inaccurate particulars or concealment of income. Citing judgments from the Karnataka and Delhi High Courts, the Tribunal concluded that the notice's ambiguity rendered the penalty proceedings invalid. Consequently, the Orders of the lower authorities were set aside, and the penalty was deemed unenforceable. en-us Mon, 21 Sep 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398801 The ITAT allowed the Assessee's appeal, cancelling the penalty under section 271(1)(c) of the I.T. Act, 1961, for A.Y. 2011-2012. The Tribunal found the show cause notice defective, as it failed to specify whether the penalty was for inaccurate particulars or concealment of income. Citing judgments from the Karnataka and Delhi High Courts, the Tribunal concluded that the notice's ambiguity rendered the penalty proceedings invalid. Consequently, the Orders of the lower authorities were set aside, and the penalty was deemed unenforceable. Case-Laws Income Tax Mon, 21 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398801