https://www.taxtmi.com/caselaws?id=400659 The tribunal allowed the appeal, quashing the penalty of Rs. 12 lac imposed under Sec. 271(1)(c) of the Income Tax Act. The penalty notice was deemed invalid due to a lack of clear charge and discrepancy between the initiated and imposed charges, violating principles of natural justice. The tribunal held that the penalty for disallowance of Fringe Benefit Tax was unwarranted as it resulted from a bonafide mistake, not intentional misconduct. The penalty was invalidated on jurisdictional grounds, and the tribunal refrained from further adjudication on the merits. en-us Mon, 09 Nov 2020 00:00:00 +0530 Thu, 12 Nov 2020 12:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400659 The tribunal allowed the appeal, quashing the penalty of Rs. 12 lac imposed under Sec. 271(1)(c) of the Income Tax Act. The penalty notice was deemed invalid due to a lack of clear charge and discrepancy between the initiated and imposed charges, violating principles of natural justice. The tribunal held that the penalty for disallowance of Fringe Benefit Tax was unwarranted as it resulted from a bonafide mistake, not intentional misconduct. The penalty was invalidated on jurisdictional grounds, and the tribunal refrained from further adjudication on the merits. Case-Laws Income Tax Mon, 09 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400659