https://www.taxtmi.com/caselaws?id=408037 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to cancel the penalty levied under Section 271(1)(c). The Tribunal concluded that the assessee had made full and transparent disclosures, the legal issues were complex, and the penalty notice was invalid due to its ambiguity. Therefore, the grounds raised by the Revenue were dismissed, and the appeal was not upheld. en-us Thu, 27 May 2021 00:00:00 +0530 Sat, 29 May 2021 08:30:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408037 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to cancel the penalty levied under Section 271(1)(c). The Tribunal concluded that the assessee had made full and transparent disclosures, the legal issues were complex, and the penalty notice was invalid due to its ambiguity. Therefore, the grounds raised by the Revenue were dismissed, and the appeal was not upheld. Case-Laws Income Tax Thu, 27 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408037