https://www.taxtmi.com/caselaws?id=462967 The ITAT Chennai held that the penalty under Sec. 271AAB could not be sustained as the AO failed to specify the applicable clause for penalty imposition, rendering the notice defective. The tribunal relied on precedents requiring clear communication of the specific limb under which penalty is levied. Consequently, the penalty proceedings were quashed and the assessee's appeal allowed. en-us Wed, 21 May 2025 00:00:00 +0530 Mon, 28 Jul 2025 18:57:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462967 The ITAT Chennai held that the penalty under Sec. 271AAB could not be sustained as the AO failed to specify the applicable clause for penalty imposition, rendering the notice defective. The tribunal relied on precedents requiring clear communication of the specific limb under which penalty is levied. Consequently, the penalty proceedings were quashed and the assessee's appeal allowed. Case-Laws Income Tax Wed, 21 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462967