https://www.taxtmi.com/caselaws?id=751243 ITAT Raipur quashed penalty under Section 271(1)(c) due to defective notice under Section 274. The AO failed to strike off irrelevant defaults and did not clearly specify the exact default for which penalty was being imposed. This left the assessee unable to understand the charges and deprived them of opportunity to provide proper explanation. The tribunal held that AO's failure to discharge statutory obligation of providing fair notice violated Section 274(1) mandate, making the penalty unsustainable. CIT(A)'s order upholding the penalty was set aside and assessee's appeal was allowed. en-us Mon, 08 Apr 2024 00:00:00 +0530 Tue, 09 Apr 2024 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751243 ITAT Raipur quashed penalty under Section 271(1)(c) due to defective notice under Section 274. The AO failed to strike off irrelevant defaults and did not clearly specify the exact default for which penalty was being imposed. This left the assessee unable to understand the charges and deprived them of opportunity to provide proper explanation. The tribunal held that AO's failure to discharge statutory obligation of providing fair notice violated Section 274(1) mandate, making the penalty unsustainable. CIT(A)'s order upholding the penalty was set aside and assessee's appeal was allowed. Case-Laws Income Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751243