Sec. 271 & 274 of the Income-tax Act, 1961 - Penalty - Tribunal deleted the penalty of Rs. 1,46,16,904/- for the reason that no details of any charge were provided to the assessee in the impugned notice. High Court dismissed the appeal of the revenue upholding the order of Tribunal. Supreme Court dismissed the SLP of the revenue on account of low tax effect. - PR. CIT V/s BASANTI PROPERTIES (P.) LTD. - [2020] 269 TAXMAN 573 (SC)