No Penalty if penalty Imposition Notice not Specify Section 271(1)(c) Limb

PCIT Vs Minu Bakshi (Delhi High Court) Introduction: The Delhi High Court, in the case of Principal Commissioner of Income Tax (PCIT) vs. Minu Bakshi, addressed an appeal against the Income Tax Appellate Tribunal’s order dated December 11, 2019. The crux of the matter was the imposition of a penalty under Section 271(1)(c) of the Income Tax Act, 1961, and whether the penalty notice sufficiently specified the grounds for imposition. Background: Minu Bakshi, the respondent/assessee, had disclosed a taxable income of 11,76,296/- in her return for the Assessment Year 2007-08. Following a sea...