https://www.taxtmi.com/caselaws?id=418143 The Tribunal held that the penalty orders under section 271(1)(c) of the Income Tax Act were invalid due to defective notices that did not specify the relevant charge for which penalties were imposed. Consequently, the penalty orders for the assessment years were quashed in favor of the appellant. The Tribunal emphasized the importance of precise statutory notices in penalty proceedings, citing legal precedents and a full bench decision of the Bombay High Court (Goa). The appeals of the assessee were allowed based on these grounds, rendering further adjudication unnecessary. en-us Tue, 08 Feb 2022 00:00:00 +0530 Wed, 09 Feb 2022 05:45:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418143 The Tribunal held that the penalty orders under section 271(1)(c) of the Income Tax Act were invalid due to defective notices that did not specify the relevant charge for which penalties were imposed. Consequently, the penalty orders for the assessment years were quashed in favor of the appellant. The Tribunal emphasized the importance of precise statutory notices in penalty proceedings, citing legal precedents and a full bench decision of the Bombay High Court (Goa). The appeals of the assessee were allowed based on these grounds, rendering further adjudication unnecessary. Case-Laws Income Tax Tue, 08 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418143