https://www.taxtmi.com/caselaws?id=436259 The ITAT Delhi allowed the appeal of the assessee, directing the deletion of the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The ITAT held that the penalty was imposed without proper notice to the assessee and lacked specification in the assessment order regarding whether it was for concealment of income or furnishing inaccurate particulars of income. Due to these deficiencies, the ITAT concluded that the penalty order lacked proper jurisdiction and did not meet the necessary conditions for imposition, ultimately ruling in favor of the assessee. en-us Thu, 06 Apr 2023 00:00:00 +0530 Sat, 08 Apr 2023 08:47:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436259 The ITAT Delhi allowed the appeal of the assessee, directing the deletion of the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The ITAT held that the penalty was imposed without proper notice to the assessee and lacked specification in the assessment order regarding whether it was for concealment of income or furnishing inaccurate particulars of income. Due to these deficiencies, the ITAT concluded that the penalty order lacked proper jurisdiction and did not meet the necessary conditions for imposition, ultimately ruling in favor of the assessee. Case-Laws Income Tax Thu, 06 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436259