Penalty Notice Invalid: Lack of Clarity on Section 271(1)(c) Limb Triggers

Pr. CIT Vs Ansal Properties And Infrastructure Limited (Delhi High Court) Introduction: In the case of Pr. CIT vs Ansal Properties And Infrastructure Limited, the Delhi High Court addressed the critical issue of the validity of a penalty notice under Section 271(1)(c) of the Income Tax Act. The notice lacked clarity on which limb of Section 271(1)(c) triggered the penalty proceedings. Detailed Analysis: The appeal, filed for Assessment Year 2011-12, challenged the order of the Income Tax Appellate Tribunal (ITAT) that had deleted a penalty of Rs.1,71,40,000 imposed by the Assessing Officer (...