https://www.taxtmi.com/caselaws?id=272300 The Tribunal held that the penalty under Section 271(1)(c) of the Income Tax Act was not sustainable due to a defective notice issued under Section 274. The notice failed to specify whether the penalty was for concealment of income or furnishing inaccurate particulars, violating principles of natural justice. Consequently, the penalty was deleted, and the appeal was allowed. The Tribunal did not address the merits of the penalty due to the primary issue of the defective notice. en-us Wed, 10 Feb 2016 00:00:00 +0530 Fri, 04 Mar 2016 11:07:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272300 The Tribunal held that the penalty under Section 271(1)(c) of the Income Tax Act was not sustainable due to a defective notice issued under Section 274. The notice failed to specify whether the penalty was for concealment of income or furnishing inaccurate particulars, violating principles of natural justice. Consequently, the penalty was deleted, and the appeal was allowed. The Tribunal did not address the merits of the penalty due to the primary issue of the defective notice. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272300