https://www.taxtmi.com/caselaws?id=427644 The Tribunal allowed the Assessee's appeal against the penalty imposed under Section 271(1)(c) of the Income Tax Act for the Assessment Year 2011-12. The Tribunal held that the penalty was unjustified as the notice initiating penalty proceedings did not specify the charge, following a precedent set by the Delhi High Court. It emphasized the importance of adhering to legal requirements and precedents in penalty imposition, leading to the decision to set aside the penalty. en-us Mon, 12 Sep 2022 00:00:00 +0530 Tue, 13 Sep 2022 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427644 The Tribunal allowed the Assessee's appeal against the penalty imposed under Section 271(1)(c) of the Income Tax Act for the Assessment Year 2011-12. The Tribunal held that the penalty was unjustified as the notice initiating penalty proceedings did not specify the charge, following a precedent set by the Delhi High Court. It emphasized the importance of adhering to legal requirements and precedents in penalty imposition, leading to the decision to set aside the penalty. Case-Laws Income Tax Mon, 12 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427644