https://www.taxtmi.com/caselaws?id=307423 The High Court of Calcutta dismissed the appeal filed by the revenue under Section 260A of the Income Tax Act, 1961. The Court upheld the decision of the Income Tax Appellate Tribunal for the assessment year 2007-08, ruling that penalty proceedings under Section 271(1)(c) are invalid if the show-cause notice lacks specific grounds. The Court emphasized the necessity of a valid and specific show-cause notice in penalty proceedings, affirming the Tribunal's decision to grant relief to the assessee. en-us Mon, 31 Oct 2022 00:00:00 +0530 Wed, 12 Apr 2023 21:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307423 The High Court of Calcutta dismissed the appeal filed by the revenue under Section 260A of the Income Tax Act, 1961. The Court upheld the decision of the Income Tax Appellate Tribunal for the assessment year 2007-08, ruling that penalty proceedings under Section 271(1)(c) are invalid if the show-cause notice lacks specific grounds. The Court emphasized the necessity of a valid and specific show-cause notice in penalty proceedings, affirming the Tribunal's decision to grant relief to the assessee. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307423