https://www.taxtmi.com/caselaws?id=415638 The Tribunal found that the penalty order under section 271(1)(c) of the Income Tax Act was invalid due to lack of specificity in the penalty notices issued by the Assessing Officer. As the notices did not specify the exact limb of section 271(1)(c) under which the penalty was initiated, the Tribunal quashed the penalty orders for the Assessment Years 2007-08 to 2011-12. The appeals of the assessee were allowed, while the revenue's appeal was dismissed. The Tribunal emphasized the importance of specificity in penalty notices and upheld principles of natural justice. en-us Thu, 11 Nov 2021 00:00:00 +0530 Fri, 10 Dec 2021 08:37:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415638 The Tribunal found that the penalty order under section 271(1)(c) of the Income Tax Act was invalid due to lack of specificity in the penalty notices issued by the Assessing Officer. As the notices did not specify the exact limb of section 271(1)(c) under which the penalty was initiated, the Tribunal quashed the penalty orders for the Assessment Years 2007-08 to 2011-12. The appeals of the assessee were allowed, while the revenue's appeal was dismissed. The Tribunal emphasized the importance of specificity in penalty notices and upheld principles of natural justice. Case-Laws Income Tax Thu, 11 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415638