https://www.taxtmi.com/caselaws?id=306539 The penalty notice issued under Section 271AAB of the Income Tax Act, 1961 was challenged for being invalid. The court found that the notice was defective as it failed to specify the relevant clause for penalty imposition. Citing a similar case from the Madras High Court, the court emphasized the importance of a valid notice in penalty proceedings. Consequently, the penalty order was deemed invalid and quashed, allowing the appeals on legal grounds. The judgment underscored the necessity of adhering to procedural requirements in penalty proceedings to ensure the assessee's right to a fair opportunity to respond effectively. en-us Mon, 28 Mar 2022 00:00:00 +0530 Wed, 08 Feb 2023 07:32:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306539 The penalty notice issued under Section 271AAB of the Income Tax Act, 1961 was challenged for being invalid. The court found that the notice was defective as it failed to specify the relevant clause for penalty imposition. Citing a similar case from the Madras High Court, the court emphasized the importance of a valid notice in penalty proceedings. Consequently, the penalty order was deemed invalid and quashed, allowing the appeals on legal grounds. The judgment underscored the necessity of adhering to procedural requirements in penalty proceedings to ensure the assessee's right to a fair opportunity to respond effectively. Case-Laws Income Tax Mon, 28 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306539