https://www.taxtmi.com/caselaws?id=301383 The Tribunal allowed the appeal, setting aside the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal emphasized the importance of clearly specifying the grounds for penalty and ruled in favor of the assessee based on the lack of clarity in the show cause notice and the withdrawal of the exemption claim. en-us Wed, 06 Feb 2019 00:00:00 +0530 Fri, 01 Apr 2022 20:30:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301383 The Tribunal allowed the appeal, setting aside the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal emphasized the importance of clearly specifying the grounds for penalty and ruled in favor of the assessee based on the lack of clarity in the show cause notice and the withdrawal of the exemption claim. Case-Laws Income Tax Wed, 06 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301383