https://www.taxtmi.com/caselaws?id=309266 The Tribunal found that the Assessing Officer (AO) failed to specify the exact charge for which the penalty was initiated under Section 271(1)(c) of the Income Tax Act, rendering the penalty proceedings invalid. Referring to legal precedents, the Tribunal set aside the Commissioner of Income Tax (Appeal)'s order and directed the AO to delete the penalty imposed on the assessee. Consequently, the penalty under Section 271(1)(c) of the Act was quashed, and the appeal of the assessee was allowed. en-us Wed, 25 May 2022 00:00:00 +0530 Mon, 21 Aug 2023 22:13:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309266 The Tribunal found that the Assessing Officer (AO) failed to specify the exact charge for which the penalty was initiated under Section 271(1)(c) of the Income Tax Act, rendering the penalty proceedings invalid. Referring to legal precedents, the Tribunal set aside the Commissioner of Income Tax (Appeal)'s order and directed the AO to delete the penalty imposed on the assessee. Consequently, the penalty under Section 271(1)(c) of the Act was quashed, and the appeal of the assessee was allowed. Case-Laws Income Tax Wed, 25 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309266