https://www.taxtmi.com/caselaws?id=405151 The Supreme Court upheld the decision of the Tribunal and the Delhi High Court, ruling that the penalty notice issued by the Assessing Officer was invalid for not specifying the limb of section 271(1)(c) under which the penalty proceedings were initiated. This rendered the penalty proceedings invalid, leading to the cancellation of the penalty and allowing the appeal of the assessee against the penalty imposed under the Income Tax Act for AY 2003-04. en-us Wed, 10 Mar 2021 00:00:00 +0530 Thu, 08 Jul 2021 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405151 The Supreme Court upheld the decision of the Tribunal and the Delhi High Court, ruling that the penalty notice issued by the Assessing Officer was invalid for not specifying the limb of section 271(1)(c) under which the penalty proceedings were initiated. This rendered the penalty proceedings invalid, leading to the cancellation of the penalty and allowing the appeal of the assessee against the penalty imposed under the Income Tax Act for AY 2003-04. Case-Laws Income Tax Wed, 10 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405151