ITAT deletes Penalty since AO issued Notice without specifying Charge [Read Order]

ITAT - Penalty - Assessing Officer - AO - Notice - Charge - Taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has quashed a penalty order issued by the income tax department since the Assessing Officer failed to specify the relevant charge against the assessee as per the conditions prescribed in section 271(l)(c) of the Income Tax Act, 1961. Before the Tribunal, the assessee contended that…

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