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ITAT quashes penalty notice as it hadn’t spelt out fault of assessee against which penalty was levy

June 29, 2020[2020] 117 taxmann.com 321 (Gauhati - Trib.)
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INCOME TAX : Where in penalty notice, Assessing Officer had not spelt out what was fault for which assessee was being proceeded against for levy of penalty, notice was vague; hence, penalty order was also bad

INCOME TAX : Assessee's explaination that accountant of assessee suddenly left office/service without properly handing over books causing delay in completing audit report is reasonable and, thus, no penalty could be levied

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