Vague 271(1)(c) Notice Fatal: Visakhapatnam ITAT Quashes ₹6.34 Cr Penalty

Visakhapatnam Industrial Water Supply Company Limited Vs DCIT (ITAT Visakhapatnam) Vague 271(1)(c) Notice Fatal: Visakhapatnam ITAT Quashes ₹6.34 Cr Penalty The Visakhapatnam “Division” Bench of the ITAT, in Visakhapatnam Industrial Water Supply Company Ltd. vs DCIT (ITA No. 657/Viz/2025, AY 2012-13), quashed the penalty of ₹6.34 crore levied u/s 271(1)(c) on the ground that the penalty notice u/s 274 was vague and invalid, as it failed to specify the exact charge—“concealment of income” or “furnishing of inaccurate particulars”. The AO had disallowed unpaid interest of ₹19...