https://www.taxtmi.com/caselaws?id=437974 The Tribunal dismissed the Revenue's appeals regarding the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found the penalty notice's lack of specificity regarding the nature of the penalty to be fatal. As the specific charge was not identified, the penalty was deemed unsustainable. Relying on precedents from the Bombay High Court and the Delhi High Court, the Tribunal upheld the orders deleting the penalty. The appeals were consequently dismissed due to the non-sustainability of the penalty. en-us Wed, 26 Apr 2023 00:00:00 +0530 Thu, 18 May 2023 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437974 The Tribunal dismissed the Revenue's appeals regarding the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found the penalty notice's lack of specificity regarding the nature of the penalty to be fatal. As the specific charge was not identified, the penalty was deemed unsustainable. Relying on precedents from the Bombay High Court and the Delhi High Court, the Tribunal upheld the orders deleting the penalty. The appeals were consequently dismissed due to the non-sustainability of the penalty. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437974