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Nov 24
J&K High Court Ruling: Penalty Notices Under Section 271(1)(c) Must Specify Grounds
The Jammu & Kashmir and Ladakh High Court delivered a crucial verdict in the case of Commissioner of Income Tax vs. J&K Power Development Corporation Limited (ITA 7/2019), emphasizing that penalty notices under Section 271(1)(c) of the Income Tax Act, 1961, must clearly state whether the penalty proceedings are for…