https://www.taxtmi.com/caselaws?id=413306 The ITAT Mumbai allowed the appeals filed by the assessee, leading to the deletion of penalties imposed for the assessment years 2005-06, 2010-11, 2011-12, and 2012-13. The ITAT held that the penalty notices issued by the Assessing Officer were defective and lacked specificity, rendering them invalid. Emphasizing the importance of clear and precise penalty notices, the ITAT ruled in favor of the assessee, highlighting the need for adherence to procedural fairness and strict construction of penal provisions in penalty proceedings to safeguard the rights of the taxpayer. en-us Tue, 05 Oct 2021 00:00:00 +0530 Fri, 08 Oct 2021 08:21:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413306 The ITAT Mumbai allowed the appeals filed by the assessee, leading to the deletion of penalties imposed for the assessment years 2005-06, 2010-11, 2011-12, and 2012-13. The ITAT held that the penalty notices issued by the Assessing Officer were defective and lacked specificity, rendering them invalid. Emphasizing the importance of clear and precise penalty notices, the ITAT ruled in favor of the assessee, highlighting the need for adherence to procedural fairness and strict construction of penal provisions in penalty proceedings to safeguard the rights of the taxpayer. Case-Laws Income Tax Tue, 05 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413306