https://www.taxtmi.com/caselaws?id=415184 The tribunal quashed the penalty order under section 271(1)(c) of the Act due to the lack of specification in the notice, following the Full Bench judgment of the Hon'ble Bombay High Court (Goa). The notice did not clearly indicate the grounds for the penalty proceedings, leading to ambiguity and violating principles of natural justice. As a result, the appeal of the assessee was allowed, and the penalty order was deemed invalid. The tribunal emphasized the necessity of clear and specific notices in penalty proceedings to ensure fairness and avoid vagueness. en-us Fri, 25 Jun 2021 00:00:00 +0530 Mon, 29 Nov 2021 08:59:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415184 The tribunal quashed the penalty order under section 271(1)(c) of the Act due to the lack of specification in the notice, following the Full Bench judgment of the Hon'ble Bombay High Court (Goa). The notice did not clearly indicate the grounds for the penalty proceedings, leading to ambiguity and violating principles of natural justice. As a result, the appeal of the assessee was allowed, and the penalty order was deemed invalid. The tribunal emphasized the necessity of clear and specific notices in penalty proceedings to ensure fairness and avoid vagueness. Case-Laws Income Tax Fri, 25 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415184