https://www.taxtmi.com/caselaws?id=326634 The Tribunal allowed the assessee's appeal, deleting the penalty imposed under Section 271(1)(c) of the Income Tax Act, emphasizing that there was no concealment or submission of inaccurate particulars. The Tribunal also dismissed the revenue's appeal, finding the notice for penalty to be vague and invalid, setting it aside. The Tribunal directed the Assessing Officer to remove income offered by the assessee in subsequent years to avoid double taxation related to the advance license fees. en-us Wed, 24 Feb 2016 00:00:00 +0530 Thu, 21 Apr 2016 10:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326634 The Tribunal allowed the assessee's appeal, deleting the penalty imposed under Section 271(1)(c) of the Income Tax Act, emphasizing that there was no concealment or submission of inaccurate particulars. The Tribunal also dismissed the revenue's appeal, finding the notice for penalty to be vague and invalid, setting it aside. The Tribunal directed the Assessing Officer to remove income offered by the assessee in subsequent years to avoid double taxation related to the advance license fees. Case-Laws Income Tax Wed, 24 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326634