https://www.taxtmi.com/caselaws?id=405724 The Tribunal allowed the appeals filed by the assessee for all assessment years, holding that the penalties imposed under Sections 271(1)(c) and 271AAB were not sustainable due to procedural lapses, vague penalty notices, and inadequate satisfaction recorded by the AO. The Tribunal emphasized the need for clear and specific penalty notices and adherence to procedural requirements, thereby setting aside the penalties. en-us Tue, 23 Mar 2021 00:00:00 +0530 Fri, 26 Mar 2021 08:49:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405724 The Tribunal allowed the appeals filed by the assessee for all assessment years, holding that the penalties imposed under Sections 271(1)(c) and 271AAB were not sustainable due to procedural lapses, vague penalty notices, and inadequate satisfaction recorded by the AO. The Tribunal emphasized the need for clear and specific penalty notices and adherence to procedural requirements, thereby setting aside the penalties. Case-Laws Income Tax Tue, 23 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405724