https://www.taxtmi.com/caselaws?id=294446 The Tribunal ruled in favor of the appellant, finding the penalty imposed under section 271(1)(c) for Assessment Year 2003-04 to be illegal due to the absence of requisite satisfaction and lack of specific charges against the appellant. Emphasizing the need for specificity in the show cause notice and adherence to principles of natural justice, the Tribunal cited legal precedents and held that the penalty was void ab initio, leading to its deletion. The Tribunal also deemed the penalty illegal due to errors in upholding it based on facts detected during assessment proceedings and lack of specificity in the show cause notice. en-us Fri, 18 Jan 2019 00:00:00 +0530 Thu, 15 Apr 2021 08:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294446 The Tribunal ruled in favor of the appellant, finding the penalty imposed under section 271(1)(c) for Assessment Year 2003-04 to be illegal due to the absence of requisite satisfaction and lack of specific charges against the appellant. Emphasizing the need for specificity in the show cause notice and adherence to principles of natural justice, the Tribunal cited legal precedents and held that the penalty was void ab initio, leading to its deletion. The Tribunal also deemed the penalty illegal due to errors in upholding it based on facts detected during assessment proceedings and lack of specificity in the show cause notice. Case-Laws Income Tax Fri, 18 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294446