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Invalid Penalty Proceedings u/s 271AAB Due to Defective Notices Lacking Specifics on Taxpayer Default and Income Amount.
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....Penalty u/s 271AAB - defective notice - both the show cause notices issued by the AO for initiation of penalty proceedings u/s 271AAB are very vague and silent about the default of the assessee and further the amount of undisclosed income on which the penalty was proposed to be levied. - Penalties set aside.....