https://www.taxtmi.com/caselaws?id=302359 The Tribunal allowed the appeal of a Chartered Accountant firm against the penalty imposed by the Assessing Officer under section 271(1)(c). The Tribunal held that the notice issued for penalty imposition lacked specificity on the grounds, citing legal precedents emphasizing the requirement for specific grounds in penalty proceedings. Relying on decisions from the Karnataka and Madras High Courts, the Tribunal concluded that the defective notice deprived the Assessing Officer of jurisdiction to levy the penalty. Consequently, the Tribunal directed the deletion of the penalty imposed on the assessee, ruling in favor of the firm. en-us Wed, 04 Mar 2020 00:00:00 +0530 Fri, 20 May 2022 19:06:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302359 The Tribunal allowed the appeal of a Chartered Accountant firm against the penalty imposed by the Assessing Officer under section 271(1)(c). The Tribunal held that the notice issued for penalty imposition lacked specificity on the grounds, citing legal precedents emphasizing the requirement for specific grounds in penalty proceedings. Relying on decisions from the Karnataka and Madras High Courts, the Tribunal concluded that the defective notice deprived the Assessing Officer of jurisdiction to levy the penalty. Consequently, the Tribunal directed the deletion of the penalty imposed on the assessee, ruling in favor of the firm. Case-Laws Income Tax Wed, 04 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302359