https://www.taxtmi.com/caselaws?id=409827 The ITAT Delhi held that the defective penalty notice issued by the Assessing Officer under sections 274 and 271 of the Income-tax Act rendered the imposition of penalty invalid. The court directed the Assessing Officer to delete the penalty imposed on the assessee for not specifying the grounds for penalty initiation, citing relevant case law emphasizing the importance of a proper and specific notice for initiating penalty proceedings. The appeal of the assessee was allowed, highlighting the significance of complying with procedural requirements in penalty proceedings under the Income-tax Act, 1961. en-us Thu, 08 Jul 2021 00:00:00 +0530 Sat, 17 Jul 2021 07:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409827 The ITAT Delhi held that the defective penalty notice issued by the Assessing Officer under sections 274 and 271 of the Income-tax Act rendered the imposition of penalty invalid. The court directed the Assessing Officer to delete the penalty imposed on the assessee for not specifying the grounds for penalty initiation, citing relevant case law emphasizing the importance of a proper and specific notice for initiating penalty proceedings. The appeal of the assessee was allowed, highlighting the significance of complying with procedural requirements in penalty proceedings under the Income-tax Act, 1961. Case-Laws Income Tax Thu, 08 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409827