https://www.taxtmi.com/caselaws?id=754378 The ITAT allowed the assessee's appeal, annulling the penalty imposed under section 270A of the Income Tax Act, 1961, due to the Assessing Officer's failure to specify relevant clauses in the show cause notice, thus invalidating the penalty proceedings. The Tribunal also condoned a 533-day delay in filing the appeal, as the Revenue did not contest the assessee's reasons for the delay. The Tribunal distinguished the Department's reliance on a similar high court decision, asserting its jurisdiction to address the legal plea for the first time, ultimately leading to the deletion of the penalty. en-us Wed, 19 Jun 2024 00:00:00 +0530 Fri, 21 Jun 2024 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754378 The ITAT allowed the assessee's appeal, annulling the penalty imposed under section 270A of the Income Tax Act, 1961, due to the Assessing Officer's failure to specify relevant clauses in the show cause notice, thus invalidating the penalty proceedings. The Tribunal also condoned a 533-day delay in filing the appeal, as the Revenue did not contest the assessee's reasons for the delay. The Tribunal distinguished the Department's reliance on a similar high court decision, asserting its jurisdiction to address the legal plea for the first time, ultimately leading to the deletion of the penalty. Case-Laws Income Tax Wed, 19 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754378