https://www.taxtmi.com/caselaws?id=404538 The Tribunal found the penalty under section 271(1)(c) unsustainable due to vague notice, inadvertent error in computing book profit, and voluntary correction by the assessee. The appeal was allowed, and the penalty was ordered to be deleted, emphasizing the necessity of clear charges in penalty proceedings and acknowledging the assessee's good faith efforts to rectify the mistake. en-us Wed, 24 Feb 2021 00:00:00 +0530 Thu, 25 Feb 2021 09:10:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404538 The Tribunal found the penalty under section 271(1)(c) unsustainable due to vague notice, inadvertent error in computing book profit, and voluntary correction by the assessee. The appeal was allowed, and the penalty was ordered to be deleted, emphasizing the necessity of clear charges in penalty proceedings and acknowledging the assessee's good faith efforts to rectify the mistake. Case-Laws Income Tax Wed, 24 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404538