2024 (9) TMI 36 - SCH - Income Tax

Penalty u/s 271(1)(c) - Defective notice - cessation/remission of liability u/s 41(1) - HC 2023 (6) TMI 1219 - DELHI HIGH COURT decided it is necessary for the AO to indicate, broadly, as to the provision/limb under which penalty proceedings are triggered against the assessee. Clearly, this has not happened in the instant case - even in the assessment order, whereby proceedings were triggered, there is no indication whatsoever, as to which limb of Section 271(1)(c) of the Act was triggered. HELD THAT - Delay condoned. The Special Leave Petition is dismissed.