Penalty Invalid If Specific Charge u/s 270A is Not Mentioned in Income Tax SCN: ITAT Deletes...

The ITAT (Income Tax Appellate Tribunal) deleted penalties for "four assessment years," ruling that a "penalty is invalid if a specific charge under Section 270A is not mentioned in the Income Tax SCN (Show Cause Notice)." Section 270A deals with penalty for under-reporting or misreporting of income. The tribunal emphasized that the show cause notice must clearly specify the exact charge (under-reporting or misreporting) for which the penalty is proposed. A vague or generic notice is insufficient, ensuring procedural fairness and adherence to statutory requirements for penalty imposition.