https://www.taxtmi.com/caselaws?id=778887 ITAT DELHI - AT set aside a penalty under s.271B because the penalty notice ambiguously alleged different defaults (non-maintenance of books, failure to get accounts audited, or failure to furnish audit report under s.44AB), causing prejudice to the assessee. The Tribunal observed these are distinct defaults and, following HC precedent, held that any ambiguity in the penalty notice must be resolved in the assessee's favor, rendering the impugned penalty unsustainable. en-us Fri, 19 Sep 2025 00:00:00 +0530 Wed, 24 Sep 2025 08:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778887 ITAT DELHI - AT set aside a penalty under s.271B because the penalty notice ambiguously alleged different defaults (non-maintenance of books, failure to get accounts audited, or failure to furnish audit report under s.44AB), causing prejudice to the assessee. The Tribunal observed these are distinct defaults and, following HC precedent, held that any ambiguity in the penalty notice must be resolved in the assessee's favor, rendering the impugned penalty unsustainable. Case-Laws Income Tax Fri, 19 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778887