https://www.taxtmi.com/caselaws?id=449119 The Tribunal allowed the appeal, setting aside the penalty of INR 4,54,486/- imposed under Section 271(1)(c) of the Income Tax Act, 1961. It found the penalty notice and order defective for failing to specify the grounds for the penalty and for being issued in an omnibus manner. The decision cited a precedent from the Bombay HC, emphasizing the necessity of adhering to principles of natural justice. Consequently, the penalty was deleted, and the appeal was allowed, with other grounds dismissed as infructuous. en-us Mon, 18 Dec 2023 00:00:00 +0530 Tue, 06 Feb 2024 08:22:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449119 The Tribunal allowed the appeal, setting aside the penalty of INR 4,54,486/- imposed under Section 271(1)(c) of the Income Tax Act, 1961. It found the penalty notice and order defective for failing to specify the grounds for the penalty and for being issued in an omnibus manner. The decision cited a precedent from the Bombay HC, emphasizing the necessity of adhering to principles of natural justice. Consequently, the penalty was deleted, and the appeal was allowed, with other grounds dismissed as infructuous. Case-Laws Income Tax Mon, 18 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449119