https://www.taxtmi.com/caselaws?id=411285 The Tribunal ruled in favor of the assessee, finding that the penalty imposition under section 271(1)(c) was unsustainable due to the lack of specificity in the penalty notice and the absence of justification for penalty imposition on a new addition not considered during assessment. Consequently, the appeal was allowed, and the penalty was quashed. en-us Mon, 16 Aug 2021 00:00:00 +0530 Sat, 21 Aug 2021 08:32:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411285 The Tribunal ruled in favor of the assessee, finding that the penalty imposition under section 271(1)(c) was unsustainable due to the lack of specificity in the penalty notice and the absence of justification for penalty imposition on a new addition not considered during assessment. Consequently, the appeal was allowed, and the penalty was quashed. Case-Laws Income Tax Mon, 16 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411285