https://www.taxtmi.com/caselaws?id=176924 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to set aside the penalty under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found the notice for penalty invalid as it did not specify the grounds for penalty imposition, and there was no finding of concealment or inaccurate particulars. The judgment emphasized the importance of following due process and providing the assessee with a clear opportunity to contest penalty proceedings based on specific grounds. en-us Fri, 21 Nov 2014 00:00:00 +0530 Thu, 31 Dec 2015 12:36:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176924 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to set aside the penalty under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found the notice for penalty invalid as it did not specify the grounds for penalty imposition, and there was no finding of concealment or inaccurate particulars. The judgment emphasized the importance of following due process and providing the assessee with a clear opportunity to contest penalty proceedings based on specific grounds. Case-Laws Income Tax Fri, 21 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176924