HC upheld penalty deletion as notice not specifies appropriate limb for penalty 

PCIT Vs Bhudeva Estate Pvt. Ltd. (Delhi High Court) PCIT vs. Bhudeva Estate Pvt. Ltd.: Delhi High Court Upholds Penalty Deletion on Account of Inadequate Notice Introduction: The Delhi High Court recently addressed the matter of PCIT (Principal Commissioner of Income Tax) vs. Bhudeva Estate Pvt. Ltd., concerning the Assessment Year 2008-09. The appeal sought to challenge the order of the Income Tax Appellate Tribunal (ITAT) dated September 2022, which had upheld the decision of the Commissioner of Income Tax (Appeals) [CIT(A)]. The CIT(A) had set aside a penalty order dated March 31, 2017, iss...