https://www.taxtmi.com/caselaws?id=399379 The Tribunal held that the penalty notice issued under Section 271AAB was invalid as it was vague and did not specify the charge, violating legal requirements. Additionally, the assessment did not reveal any undisclosed income, and no statement under Section 132(4) was recorded from the assessee. Consequently, the Tribunal quashed the penalty, allowing the appeal of the assessee. en-us Wed, 30 Sep 2020 00:00:00 +0530 Fri, 09 Oct 2020 14:17:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399379 The Tribunal held that the penalty notice issued under Section 271AAB was invalid as it was vague and did not specify the charge, violating legal requirements. Additionally, the assessment did not reveal any undisclosed income, and no statement under Section 132(4) was recorded from the assessee. Consequently, the Tribunal quashed the penalty, allowing the appeal of the assessee. Case-Laws Income Tax Wed, 30 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399379