https://www.taxtmi.com/caselaws?id=441983 The ITAT held that the penalty imposed under Section 271(1)(c) was unsustainable due to the Assessing Officer's failure to specify the exact default in the Show Cause Notices. As a result, the penalty of Rs. 1,53,000/- was quashed, and the appeal of the assessee was allowed. The ITAT did not address other grounds of appeal, as the penalty was overturned on jurisdictional grounds. en-us Fri, 18 Aug 2023 00:00:00 +0530 Tue, 22 Aug 2023 09:11:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441983 The ITAT held that the penalty imposed under Section 271(1)(c) was unsustainable due to the Assessing Officer's failure to specify the exact default in the Show Cause Notices. As a result, the penalty of Rs. 1,53,000/- was quashed, and the appeal of the assessee was allowed. The ITAT did not address other grounds of appeal, as the penalty was overturned on jurisdictional grounds. Case-Laws Income Tax Fri, 18 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441983