https://www.taxtmi.com/caselaws?id=299473 The Tribunal ruled in favor of the appellant in an appeal against a penalty under Section 271G of the Income Tax Act 1961 for AY 2008-09. The penalty imposed by the Assessing Officer was deemed unjustified as there was no specific notice issued under Section 92D(3) before imposing the penalty. The Tribunal referred to legal precedents and emphasized the necessity of such a notice, leading to the deletion of the penalty amounting to Rs. 48,70,467. en-us Tue, 31 Oct 2017 00:00:00 +0530 Thu, 16 Dec 2021 09:00:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299473 The Tribunal ruled in favor of the appellant in an appeal against a penalty under Section 271G of the Income Tax Act 1961 for AY 2008-09. The penalty imposed by the Assessing Officer was deemed unjustified as there was no specific notice issued under Section 92D(3) before imposing the penalty. The Tribunal referred to legal precedents and emphasized the necessity of such a notice, leading to the deletion of the penalty amounting to Rs. 48,70,467. Case-Laws Income Tax Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299473