https://www.taxtmi.com/caselaws?id=294483 The Tribunal quashed penalty orders under Section 271(1)(c) of the Income Tax Act due to defective notices lacking specific charges. However, penalties under Section 271AAB were upheld for undisclosed income derived from unrecorded cash transactions. The Tribunal's decisions aligned with the High Court's requirement for penalty notices to specify charges, resulting in varied outcomes based on individual circumstances. en-us Thu, 10 Jan 2019 00:00:00 +0530 Sat, 17 Apr 2021 11:01:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294483 The Tribunal quashed penalty orders under Section 271(1)(c) of the Income Tax Act due to defective notices lacking specific charges. However, penalties under Section 271AAB were upheld for undisclosed income derived from unrecorded cash transactions. The Tribunal's decisions aligned with the High Court's requirement for penalty notices to specify charges, resulting in varied outcomes based on individual circumstances. Case-Laws Income Tax Thu, 10 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294483