AO Must Specify Relevant Limb of Section 271(1)(c) in Penalty Proceedings

PCIT Vs Unitech Reliable Projects Pvt. Ltd. (Delhi High Court) Introduction: The recent judgment in the case of Principal Commissioner of Income Tax (PCIT) vs. Unitech Reliable Projects Pvt. Ltd. before the Delhi High Court delves into the nuanced aspect of penalty proceedings under Section 271(1)(c) of the Income Tax Act, 1961. This analysis provides an in-depth examination of the legal principles highlighted in the judgment, with references to relevant precedents. I. The Imperative of Specificity in Penalty Notices: The crux of the matter lies in the initiation and imposition of penalties by...