https://www.taxtmi.com/caselaws?id=441696 The Tribunal held that the penalty order imposed on the assessee under Section 271(1)(c) of the Income Tax Act for Assessment Year 2008-09 was invalid due to the lack of specificity in the notice issued. As a result, the penalty of Rs. 15,31,470 was quashed, and the appeal of the assessee was allowed. The Tribunal emphasized the importance of providing a precise notice specifying the grounds for penalty proceedings, following legal precedents and principles of natural justice. en-us Fri, 11 Aug 2023 00:00:00 +0530 Mon, 14 Aug 2023 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441696 The Tribunal held that the penalty order imposed on the assessee under Section 271(1)(c) of the Income Tax Act for Assessment Year 2008-09 was invalid due to the lack of specificity in the notice issued. As a result, the penalty of Rs. 15,31,470 was quashed, and the appeal of the assessee was allowed. The Tribunal emphasized the importance of providing a precise notice specifying the grounds for penalty proceedings, following legal precedents and principles of natural justice. Case-Laws Income Tax Fri, 11 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441696