https://www.taxtmi.com/caselaws?id=409539 The Tribunal allowed both appeals of the assessee and directed the deletion of the penalty imposed under section 271(1)(c) of the Income Tax Act for both assessment years. The decision was based on the requirement of a precise and unambiguous notice in penalty proceedings, emphasizing that ambiguity in the notice must be resolved in favor of the assessee. The Tribunal held that the penalty levied by the Assessing Officer should be deleted, following the High Court's decision on the matter. en-us Fri, 09 Jul 2021 00:00:00 +0530 Sat, 10 Jul 2021 08:39:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409539 The Tribunal allowed both appeals of the assessee and directed the deletion of the penalty imposed under section 271(1)(c) of the Income Tax Act for both assessment years. The decision was based on the requirement of a precise and unambiguous notice in penalty proceedings, emphasizing that ambiguity in the notice must be resolved in favor of the assessee. The Tribunal held that the penalty levied by the Assessing Officer should be deleted, following the High Court's decision on the matter. Case-Laws Income Tax Fri, 09 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409539