https://www.taxtmi.com/highlights?id=57194 Levy of penalty u/s 271(1)(c) - validity of notice issued u/s 274 - mere failure to tick mark the applicable grounds - These proceedings culminate under a different statutory scheme that remains distinct from the assessment proceedings. Therefore, the assessee must be informed of the grounds of the penalty proceedings only through statutory notice. An omnibus notice suffers from the vice of vagueness. - Larger bench decision - HC en-us Tue, 16 Mar 2021 12:29:33 +0530 Tue, 16 Mar 2021 12:30:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57194 Levy of penalty u/s 271(1)(c) - validity of notice issued u/s 274 - mere failure to tick mark the applicable grounds - These proceedings culminate under a different statutory scheme that remains distinct from the assessment proceedings. Therefore, the assessee must be informed of the grounds of the penalty proceedings only through statutory notice. An omnibus notice suffers from the vice of vagueness. - Larger bench decision - HC Highlights Income Tax Tue, 16 Mar 2021 12:29:33 +0530 https://www.taxtmi.com/highlights?id=57194