https://www.taxtmi.com/caselaws?id=770698 The SC/Tribunal invalidated penalty proceedings under Income Tax Act section 271(1)(c) due to procedural defects. The notice failed to specify the penalty limb, and the claim disallowance did not warrant penalty as it was made in bona fide belief. The Tribunal quashed the penalty order, finding the AO's actions non-compliant with legal requirements and precedents, thus protecting the assessee from unwarranted financial penalty. en-us Tue, 13 May 2025 00:00:00 +0530 Thu, 15 May 2025 07:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770698 The SC/Tribunal invalidated penalty proceedings under Income Tax Act section 271(1)(c) due to procedural defects. The notice failed to specify the penalty limb, and the claim disallowance did not warrant penalty as it was made in bona fide belief. The Tribunal quashed the penalty order, finding the AO's actions non-compliant with legal requirements and precedents, thus protecting the assessee from unwarranted financial penalty. Case-Laws Income Tax Tue, 13 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770698