Tax Penalty Reduced: Section 271(1)(c) Fine Lowered from Max 300% to 100% Due to Defective Notice.

Penalty u/s 271(1)(c) - maximum penalty @ 300% - Defective notice - non specification of any specific limb or clause - AO has conclusively held in the penalty order that penalty is being imposed for concealment of particular of same type of income. - penalty confirmed but reduced to 100%. .....

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