Penalty cannot be imposed without there being a clear specific charge

Advertisement DCIT Vs M/s. National Textile Corporation. Ltd. (ITAT Delhi) We have carefully gone through the orders of the authorities below and the material placed before us. We have also deliberated on the judicial pronouncements referred to by the lower authorities in their respective orders as well as cited by the learned DR and AR during the course of hearing. The learned CIT(A) while deleting the penalty has passed a well reasoned order which does not require any interference. The findings of the learned CIT(A) are as under: “ Ground No. 1, 3 &5 related to imposition of penalty...