https://www.taxtmi.com/caselaws?id=327384 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income-tax Act, emphasizing the lack of specificity in the charge and the applicability of Explanation 5. The Revenue's appeal was dismissed, ruling the penalty as unsustainable in law due to ambiguity in the reasons for penalty and the failure to establish the exact default of concealment or furnishing inaccurate particulars of income. en-us Wed, 30 Mar 2016 00:00:00 +0530 Tue, 10 May 2016 11:31:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327384 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c) of the Income-tax Act, emphasizing the lack of specificity in the charge and the applicability of Explanation 5. The Revenue's appeal was dismissed, ruling the penalty as unsustainable in law due to ambiguity in the reasons for penalty and the failure to establish the exact default of concealment or furnishing inaccurate particulars of income. Case-Laws Income Tax Wed, 30 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327384