https://www.taxtmi.com/caselaws?id=307299 The Appellate Tribunal overturned the penalty order under section 271(1)(c) of the Income Tax Act, citing the Assessing Officer's failure to specify grounds for penalty imposition. Relying on a relevant High Court decision, the Tribunal ruled in favor of the assessee, directing the deletion of the penalty amount. The appeal highlighted the necessity of accurately specifying penalty grounds in such proceedings, resulting in the favorable outcome for the assessee. en-us Tue, 18 Oct 2022 00:00:00 +0530 Tue, 04 Apr 2023 20:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307299 The Appellate Tribunal overturned the penalty order under section 271(1)(c) of the Income Tax Act, citing the Assessing Officer's failure to specify grounds for penalty imposition. Relying on a relevant High Court decision, the Tribunal ruled in favor of the assessee, directing the deletion of the penalty amount. The appeal highlighted the necessity of accurately specifying penalty grounds in such proceedings, resulting in the favorable outcome for the assessee. Case-Laws Income Tax Tue, 18 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307299