https://www.taxtmi.com/caselaws?id=414641 The Tribunal allowed the appeal, directing the Assessing Officer to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for Assessment Year 2007-08. The Tribunal found merit in the assessee's argument that the notice issued under section 274 r.w.s. 271 was defective as it did not specify the appropriate clause for the penalty. Relying on legal precedents, the Tribunal emphasized the necessity of specifying grounds for penalty imposition. The decision was based on principles outlined in previous court judgments, leading to the deletion of the penalty. en-us Mon, 08 Nov 2021 00:00:00 +0530 Sat, 13 Nov 2021 20:30:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414641 The Tribunal allowed the appeal, directing the Assessing Officer to delete the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 for Assessment Year 2007-08. The Tribunal found merit in the assessee's argument that the notice issued under section 274 r.w.s. 271 was defective as it did not specify the appropriate clause for the penalty. Relying on legal precedents, the Tribunal emphasized the necessity of specifying grounds for penalty imposition. The decision was based on principles outlined in previous court judgments, leading to the deletion of the penalty. Case-Laws Income Tax Mon, 08 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414641