https://www.taxtmi.com/caselaws?id=463085 The ITAT Chandigarh held that the penalty notice issued under section 271AAB(1) was vague as it failed to specify the exact clause under which the penalty was leviable. Since the notice did not clearly inform the assessee of the precise charge or record any satisfaction for initiating penalty proceedings, the penalty could not be sustained. The tribunal emphasized that penalty notices must clearly convey the specific charge to the assessee. Consequently, the appeal was allowed, and the penalty was set aside. en-us Wed, 05 Jun 2024 00:00:00 +0530 Tue, 05 Aug 2025 20:50:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463085 The ITAT Chandigarh held that the penalty notice issued under section 271AAB(1) was vague as it failed to specify the exact clause under which the penalty was leviable. Since the notice did not clearly inform the assessee of the precise charge or record any satisfaction for initiating penalty proceedings, the penalty could not be sustained. The tribunal emphasized that penalty notices must clearly convey the specific charge to the assessee. Consequently, the appeal was allowed, and the penalty was set aside. Case-Laws Income Tax Wed, 05 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463085