https://www.taxtmi.com/caselaws?id=435393 The Tribunal allowed the Assessee's appeal, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act. The penalty notice, lacking specification of the relevant limb, was deemed invalid. Citing legal precedents, the penalty was found not leviable, leading to the setting aside of the penalty imposed by the Assessing Officer. The decision emphasized the necessity of specifying the penalty limb in the notice for validity, aligning with established legal positions from various Courts. en-us Thu, 16 Mar 2023 00:00:00 +0530 Fri, 17 Mar 2023 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435393 The Tribunal allowed the Assessee's appeal, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act. The penalty notice, lacking specification of the relevant limb, was deemed invalid. Citing legal precedents, the penalty was found not leviable, leading to the setting aside of the penalty imposed by the Assessing Officer. The decision emphasized the necessity of specifying the penalty limb in the notice for validity, aligning with established legal positions from various Courts. Case-Laws Income Tax Thu, 16 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435393