https://www.taxtmi.com/caselaws?id=400979 The Tribunal allowed the appeal filed by the assessee, setting aside the CIT(A)'s findings and deleting the penalty imposed under section 271(1)(c) of the Income Tax Act. The penalty was found unsustainable due to the defective notice that did not specify the charge of furnishing inaccurate particulars of income, as required by principles of natural justice. The Tribunal also noted that the assessee had fully disclosed all facts and was supported by relevant case law, leading to the conclusion that no penalty was leviable. en-us Thu, 09 Jul 2020 00:00:00 +0530 Tue, 24 Nov 2020 12:02:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400979 The Tribunal allowed the appeal filed by the assessee, setting aside the CIT(A)'s findings and deleting the penalty imposed under section 271(1)(c) of the Income Tax Act. The penalty was found unsustainable due to the defective notice that did not specify the charge of furnishing inaccurate particulars of income, as required by principles of natural justice. The Tribunal also noted that the assessee had fully disclosed all facts and was supported by relevant case law, leading to the conclusion that no penalty was leviable. Case-Laws Income Tax Thu, 09 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400979