https://www.taxtmi.com/caselaws?id=399819 The Tribunal allowed the appeal of the assessee, quashing the penalty of Rs. 4,48,350 imposed under Section 271(1)(c) of the Income Tax Act, 1961, due to the invalidity of the penalty notice. The Tribunal emphasized the importance of clearly specifying the charge in penalty notices to ensure compliance with the principles of natural justice and the statutory requirements. Since the penalty was invalidated on procedural grounds, the Tribunal did not assess the merits of the penalty imposed. en-us Fri, 09 Oct 2020 00:00:00 +0530 Tue, 20 Oct 2020 13:00:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399819 The Tribunal allowed the appeal of the assessee, quashing the penalty of Rs. 4,48,350 imposed under Section 271(1)(c) of the Income Tax Act, 1961, due to the invalidity of the penalty notice. The Tribunal emphasized the importance of clearly specifying the charge in penalty notices to ensure compliance with the principles of natural justice and the statutory requirements. Since the penalty was invalidated on procedural grounds, the Tribunal did not assess the merits of the penalty imposed. Case-Laws Income Tax Fri, 09 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399819