Section 271(1)(c) Penalty Notice Issued After Assessment Order is Invalid: ITAT Chennai

Srinivasan Chandrasekara Chandilya K.V.Ranganathan & Co. Vs ACIT (ITAT Chennai) Section 271(1)(c) Notice Issued after date of Assessment Order Is Bad in Law: ITAT Chennai In a recent decision, the Income Tax Appellate Tribunal (ITAT) Chennai ruled on the validity of penalty notices issued under Section 271(1)(c) of the Income Tax Act, 1961. The case, Srinivasan Chandrasekara Chandilya K.V. Ranganathan & Co. Vs ACIT, involved multiple appeals concerning penalties imposed for the assessment years 2012-13 to 2016-17. The tribunal quashed the penalties, deeming the notices issued after th...