https://www.taxtmi.com/caselaws?id=399811 The Tribunal allowed the appeal of the assessee, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, due to the defective initiation of penalty proceedings as the notice did not specify the grounds for penalty imposition. The Tribunal emphasized the necessity of the Assessing Officer to clearly state the basis for initiating penalty proceedings to ensure the validity of such actions. en-us Fri, 12 Jun 2020 00:00:00 +0530 Tue, 20 Oct 2020 12:46:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399811 The Tribunal allowed the appeal of the assessee, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, due to the defective initiation of penalty proceedings as the notice did not specify the grounds for penalty imposition. The Tribunal emphasized the necessity of the Assessing Officer to clearly state the basis for initiating penalty proceedings to ensure the validity of such actions. Case-Laws Income Tax Fri, 12 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399811