https://www.taxtmi.com/caselaws?id=309430 The Tribunal held that the penalty order under Section 271(1)(c) of the Income Tax Act was invalid due to the defective nature of the notice issued under Section 274. Relying on precedents emphasizing the necessity for clear grounds in penalty notices, the Tribunal concluded that the penalty imposition was unsustainable. Consequently, the penalty was deleted, and the appeal by the assessee was allowed. The judgment was pronounced in favor of the assessee on 8/12/2016. en-us Thu, 08 Dec 2016 00:00:00 +0530 Sat, 02 Sep 2023 21:13:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309430 The Tribunal held that the penalty order under Section 271(1)(c) of the Income Tax Act was invalid due to the defective nature of the notice issued under Section 274. Relying on precedents emphasizing the necessity for clear grounds in penalty notices, the Tribunal concluded that the penalty imposition was unsustainable. Consequently, the penalty was deleted, and the appeal by the assessee was allowed. The judgment was pronounced in favor of the assessee on 8/12/2016. Case-Laws Income Tax Thu, 08 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309430