https://www.taxtmi.com/caselaws?id=408319 The Tribunal allowed the appeal of the assessee, quashing the penalty order imposed under section 18(1)(c) of the Wealth Tax Act. The Tribunal held that the penalty lacked specificity in terms of the charge, leading to ambiguity and inconsistency between the penalty notice and order. Citing legal precedents and principles from the Income Tax Act, the Tribunal ruled in favor of the assessee, emphasizing the importance of a clear finding by the Assessing Officer regarding the charge for which the penalty is imposed. en-us Fri, 04 Jun 2021 00:00:00 +0530 Mon, 07 Jun 2021 08:37:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408319 The Tribunal allowed the appeal of the assessee, quashing the penalty order imposed under section 18(1)(c) of the Wealth Tax Act. The Tribunal held that the penalty lacked specificity in terms of the charge, leading to ambiguity and inconsistency between the penalty notice and order. Citing legal precedents and principles from the Income Tax Act, the Tribunal ruled in favor of the assessee, emphasizing the importance of a clear finding by the Assessing Officer regarding the charge for which the penalty is imposed. Case-Laws Wealth-tax Fri, 04 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408319