Notice Vague & Invalid if It Fails to Specify Particular Limb of Section 271(1)(c)

CIT (International Taxation)-1 Vs Genpact Services LLC (Delhi High Court) Delhi High Court has dismissed an appeal filed by the Income Tax Department (International Taxation) against Genpact Services LLC, upholding the cancellation of a penalty imposed on the company for Assessment Year 2010-11. The penalty, levied under Section 271(1)(c) of the Income Tax Act, 1961, related to a dispute over the classification of significant business acquisition expenses as either revenue or capital expenditure. The case stems from Genpact Services LLC’s acquisition of a debt collection business and a p...