Penalty Quashed Due to Vague Show-Cause Notice

Keshav Kumar Nachani Vs DCIT (ITAT Indore)

No Limb, No Penalty: Defective 274 Notices Sink Revenue’s Case- Assessee Wins on Defective Notice; Loses One Year on 562-Day Delay

Assessee filed three appeals challenging penalties u/s 271(1)(c) imposed following a search u/s 132 on 25.11.2010. Assessments for AYs 2009-10 & 2010-11 were completed u/s 153A r.w.s. 143(3) & AY 2012-13 u/s 143(3), with additions leading to penalties of Rs.51.46 lakh, Rs.4.54 lakh & Rs.4.94 lakh respectively. Assessee produced copies of show-cause notices u/s 274 placed in

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