https://www.taxtmi.com/caselaws?id=314328 The HC dismissed the appeal (ITA 14 of 2019) and the connected stay application (GA 3412 of 2018), affirming the Tribunal's decision to delete the penalty of Rs.1,46,16,904/-. The Court found the penalty imposition invalid due to the lack of specific charges in the notice issued u/s 271 read with Section 274 of the IT Act, 1961. The decision was based on a technical defect in the notice, with no other issues addressed. The ruling emphasized the necessity of specifying the exact nature of contravention for maintaining penalties under relevant provisions. en-us Tue, 26 Feb 2019 00:00:00 +0530 Fri, 31 May 2024 21:36:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314328 The HC dismissed the appeal (ITA 14 of 2019) and the connected stay application (GA 3412 of 2018), affirming the Tribunal's decision to delete the penalty of Rs.1,46,16,904/-. The Court found the penalty imposition invalid due to the lack of specific charges in the notice issued u/s 271 read with Section 274 of the IT Act, 1961. The decision was based on a technical defect in the notice, with no other issues addressed. The ruling emphasized the necessity of specifying the exact nature of contravention for maintaining penalties under relevant provisions. Case-Laws Income Tax Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314328