Absence of Specifying the Limp, in the Notice issued, invalidates the Penalty: ITAT [Read Order]

Limp - notice issued - penalty - ITAT - Taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri Ani Chaturvedi, Accountant Member and Shri Anubhav Sharma, Judicial Member held that the absence of specifying the limp, in the notice issued, invalidates the penalty. The assessee returned an e-filed return declaring a total loss of Rs. 17,30,32,733/- which was assessed u/s 143(3)…

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