Section 271(1)(c) Penalty Quashed: Omnibus Notice Without Specific Charge Invalid

Sudesh Gupta Vs ACIT (ITAT Delhi)

The appeal filed by Sudesh Gupta against the CIT(A) order dated November 8, 2019, involved a penalty of Rs. 13,60,455 under Section 271(1)(c) of the Income Tax Act for the assessment year 2013-14. The Assessee argued that the addition made under Section 2(22)(e) concerning deemed dividends was wrongly t

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