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of <h1>Kerala High Court Dismisses Revenue's Appeal, Cancels Penalty u/s 271(1)(c) Due to Defective Notice and Pre-Condition Issues.</h1> The Kerala High Court analyzed a case regarding the imposition of a penalty under Section 271(1)(c) of the Income Tax Act. The Revenue appealed against the Income Tax Appellate Tribunal's decision to cancel the penalty on the assessee. The Court found that the assessee had disclosed omitted income and paid the differential tax before receiving the notice under Section 148, thereby precluding allegations of concealment. The Court emphasized fairness in tax administration, noting that penal provisions should apply only in clear cases of default. It dismissed the Revenue's appeal, favoring the assessee due to the defective penalty notice and lack of established pre-conditions.
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