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2016 (5) TMI 244 - AT - Income TaxPenalty u/s 271(1)(c ) - Held that:- In the present case 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. 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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