https://www.taxtmi.com/caselaws?id=434063 The Revenue's appeal against the deletion of a penalty of Rs. 1,39,31,919 imposed on the assessee for incorrect MAT income filing was dismissed. The CIT(A) deleted the penalty due to technicality, as the penalty notice did not specify the nature of the offense. Legal principles emphasizing specificity in penalty initiation were upheld, leading to the affirmation of the CIT(A)'s decision to delete the penalty. The absence of the assessee during proceedings did not impact the outcome, as the decision was based on the arguments presented by the Revenue. The judgment prioritized procedural fairness and legal clarity in penalty proceedings. en-us Tue, 14 Feb 2023 00:00:00 +0530 Wed, 15 Feb 2023 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434063 The Revenue's appeal against the deletion of a penalty of Rs. 1,39,31,919 imposed on the assessee for incorrect MAT income filing was dismissed. The CIT(A) deleted the penalty due to technicality, as the penalty notice did not specify the nature of the offense. Legal principles emphasizing specificity in penalty initiation were upheld, leading to the affirmation of the CIT(A)'s decision to delete the penalty. The absence of the assessee during proceedings did not impact the outcome, as the decision was based on the arguments presented by the Revenue. The judgment prioritized procedural fairness and legal clarity in penalty proceedings. Case-Laws Income Tax Tue, 14 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434063