https://www.taxtmi.com/caselaws?id=427082 The Tribunal set aside the penalty order imposed under section 271(1)(c) of the Income Tax Act, 1961, due to ambiguity in the penalty proceedings notice regarding the basis for penalty imposition. The appellant's challenge was successful as the Tribunal emphasized the necessity of clearly specifying the grounds for penalty initiation to sustain such orders, citing the judgment in Pr. CIT Vs. Sahara Life Insurance Company Ltd. en-us Tue, 23 Aug 2022 00:00:00 +0530 Thu, 01 Sep 2022 08:30:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427082 The Tribunal set aside the penalty order imposed under section 271(1)(c) of the Income Tax Act, 1961, due to ambiguity in the penalty proceedings notice regarding the basis for penalty imposition. The appellant's challenge was successful as the Tribunal emphasized the necessity of clearly specifying the grounds for penalty initiation to sustain such orders, citing the judgment in Pr. CIT Vs. Sahara Life Insurance Company Ltd. Case-Laws Income Tax Tue, 23 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427082