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2016 (3) TMI 642 - AT - Income TaxPenalty proceedings u/s 271(1)(c) - defective notice - Held that:- On the facts of the present case that the show cause notice u/s. 274 of the Act is defective as it does not spell out the grounds on which the penalty is sought to be imposed. Thus hold that the orders imposing penalty in all the assessment years have to be held as invalid and consequently penalty imposed is cancelled. - Decided in favour of assessee
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