https://www.taxtmi.com/caselaws?id=412539 The tribunal found that the penalty proceedings under Section 271(1)(c) were vitiated due to the Assessing Officer's failure to specify the exact default in the 'Show Cause' notice. The tribunal emphasized the importance of clearly indicating the default for which the penalty was imposed, citing various judicial precedents. Consequently, the penalty imposed was struck down. The tribunal also held that the 'Show Cause' notice was invalid for not specifying the exact default, leading to the cancellation of the penalty. As a result, the appeals for multiple assessment years were allowed, and the penalties were overturned. en-us Wed, 01 Sep 2021 00:00:00 +0530 Tue, 21 Sep 2021 08:24:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412539 The tribunal found that the penalty proceedings under Section 271(1)(c) were vitiated due to the Assessing Officer's failure to specify the exact default in the 'Show Cause' notice. The tribunal emphasized the importance of clearly indicating the default for which the penalty was imposed, citing various judicial precedents. Consequently, the penalty imposed was struck down. The tribunal also held that the 'Show Cause' notice was invalid for not specifying the exact default, leading to the cancellation of the penalty. As a result, the appeals for multiple assessment years were allowed, and the penalties were overturned. Case-Laws Income Tax Wed, 01 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412539