https://www.taxtmi.com/caselaws?id=421965 The Tribunal quashed the penalty of Rs. 3,13,172/- imposed under Section 271(1)(c) due to the Assessing Officer's failure to specify the exact default in the show cause notice, violating statutory obligations. This rendered the penalty unsustainable, leading to the penalty proceedings being void ab initio. The appeal was allowed, and the penalty order was set aside without addressing the merits of the case or the limitation period issue. en-us Fri, 29 Apr 2022 00:00:00 +0530 Thu, 05 May 2022 08:35:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421965 The Tribunal quashed the penalty of Rs. 3,13,172/- imposed under Section 271(1)(c) due to the Assessing Officer's failure to specify the exact default in the show cause notice, violating statutory obligations. This rendered the penalty unsustainable, leading to the penalty proceedings being void ab initio. The appeal was allowed, and the penalty order was set aside without addressing the merits of the case or the limitation period issue. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421965