https://www.taxtmi.com/caselaws?id=409733 The ITAT allowed the appeal, setting aside the penalty imposed under section 271AAA of the Income Tax Act. The penalty notice was deemed invalid due to lack of specificity in specifying grounds for penalty initiation, following legal precedents. The Tribunal directed deletion of the penalty considering unintentional income omission, upholding the assessee's case on legal and merits aspects. en-us Tue, 13 Jul 2021 00:00:00 +0530 Thu, 15 Jul 2021 08:04:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409733 The ITAT allowed the appeal, setting aside the penalty imposed under section 271AAA of the Income Tax Act. The penalty notice was deemed invalid due to lack of specificity in specifying grounds for penalty initiation, following legal precedents. The Tribunal directed deletion of the penalty considering unintentional income omission, upholding the assessee's case on legal and merits aspects. Case-Laws Income Tax Tue, 13 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409733