https://www.taxtmi.com/caselaws?id=401695 The tribunal allowed the appeal by the assessee, revoking the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2015-16. The tribunal found that the Assessing Officer failed to provide reasons for initiating the penalty and that the penalty notice did not specify the grounds for the penalty. Relying on legal precedents, including a Supreme Court case and a High Court decision, the tribunal set aside the penalty order due to the lack of clarity in the notice and the absence of proper justification for the penalty imposition. en-us Wed, 25 Nov 2020 00:00:00 +0530 Mon, 14 Dec 2020 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401695 The tribunal allowed the appeal by the assessee, revoking the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2015-16. The tribunal found that the Assessing Officer failed to provide reasons for initiating the penalty and that the penalty notice did not specify the grounds for the penalty. Relying on legal precedents, including a Supreme Court case and a High Court decision, the tribunal set aside the penalty order due to the lack of clarity in the notice and the absence of proper justification for the penalty imposition. Case-Laws Income Tax Wed, 25 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401695