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NewsPolicyRadarTuesday, 22 September 2026NEW

Income Tax | Penalty Deleted as Section 271(1)(c) Notice Failed to Specify Charge: ITAT Delhi

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Summary
ITAT Delhi deletes Section 271(1)(c) penalty as notice failed to specify concealment or inaccurate particulars charge.
Key Facts
TypeNews
SourcePolicyRadar India
PublishedTuesday, 22 September 2026
Affected Population1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
Key Authorities
Ministry of FinanceRBISEBIDEA
Key Stakeholders
TaxpayersBanks & NBFCsInvestors
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
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Finance & Economy668 tracked→
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Related Policies
Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on September 22, 2026
▲ highTodayRBIAnnouncementPress release
Tenor 1-day Notified Amount (in ₹ crore) 75,000 Total amount of offers received (in ₹ crore) 71,971 Amount accepted (in ₹ crore) 71,971 Cut off Rate (%) 5.24 Weighted Average Rate (%) 5.24 Partial Acceptance Percentage of offers received at cut off rate NA Ajit Prasad           Deputy General Manager (Communications)     Press Release: 2026-2027/1164
Finance & Economy
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