https://www.taxtmi.com/caselaws?id=299596 The tribunal found that the penalty proceedings under Section 271(1)(c) of the Income Tax Act were improperly initiated due to the lack of a specific charge. As a result, the imposition of the penalty was deemed unsustainable, leading to the cancellation of the penalty. The appeal by the assessee was allowed, emphasizing the importance of clear and specific charges in penalty proceedings to uphold principles of natural justice. en-us Tue, 02 Feb 2016 00:00:00 +0530 Wed, 22 Dec 2021 07:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299596 The tribunal found that the penalty proceedings under Section 271(1)(c) of the Income Tax Act were improperly initiated due to the lack of a specific charge. As a result, the imposition of the penalty was deemed unsustainable, leading to the cancellation of the penalty. The appeal by the assessee was allowed, emphasizing the importance of clear and specific charges in penalty proceedings to uphold principles of natural justice. Case-Laws Income Tax Tue, 02 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299596