https://www.taxtmi.com/caselaws?id=307440 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to cancel penalties imposed by the Assessing Officer under section 271(1)(c) for undisclosed income. It found show-cause notices defective as they did not specify the grounds for penalties, following the principles from a Karnataka High Court case. The Tribunal deemed the penalties invalid due to procedural flaws and dismissed Revenue's appeals while deeming the assessee's Cross Objections infructuous. en-us Mon, 11 Feb 2019 00:00:00 +0530 Fri, 14 Apr 2023 08:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307440 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to cancel penalties imposed by the Assessing Officer under section 271(1)(c) for undisclosed income. It found show-cause notices defective as they did not specify the grounds for penalties, following the principles from a Karnataka High Court case. The Tribunal deemed the penalties invalid due to procedural flaws and dismissed Revenue's appeals while deeming the assessee's Cross Objections infructuous. Case-Laws Income Tax Mon, 11 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307440