Lack of clarity in indicating specific ground for levy of penalty: HC dismisses Appeal

PCIT Vs Gopal Kumar Goyal (Delhi High Court) Introduction: The Delhi High Court’s recent judgment in the case of PCIT vs Gopal Kumar Goyal raises questions about the imposition of penalties under Section 271(1)(c) of the Income-tax Act, 1961. The court dismissed the Departmental appeal, highlighting a crucial failure in clarifying the grounds for penalty imposition. Detailed Analysis: The appeal pertains to the Assessment Year (AY) 2004-05, focusing on the order dated 30.03.2022 and the corrigendum dated 08.04.2022 issued by the Income Tax Appellate Tribunal (Tribunal). The key issue was...