Income Tax Penalty Invalidated: Section 271(1)(c) Charges Unsustainable Due to Defective Notice and Section 274(1) Violation.

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....Penalty u/s 271(1)(c) - Non specification of charge - defective notice - as the A.O had clearly failed to discharge his statutory obligation of fairly putting the assessee to notice as regards the default for which he was being proceeded against, therefore, the penalty under Sec. 271(1)(c) imposed by him being in clear violation of the mandate of Sec. 274(1) of the Act cannot be sustained. - AT....