Section 271(1)(c) Penalty Notice Invalid If Grounds Not Specified: Calcutta HC

PCIT Vs Bijoy Kumar Agarwal (Calcutta High Court) A Calcutta High Court ruling dismissed an appeal by the Principal Commissioner of Income Tax against Bijoy Kumar Agarwal, upholding the invalidation of a penalty notice issued under Section 272(1)(c) of the Income Tax Act, 1961. The court found the notice to be technically defective as it failed to specify the exact contravention committed by the assessee. This decision aligns with established judicial precedents, including the Supreme Court’s ruling in Amrit Foods Versus Commissioner of Central Excise, U. P. (2005) 13 SCC 419, and previo...