https://www.taxtmi.com/caselaws?id=333472 The Tribunal found the penalty imposed under Section 271(1)(c) to be invalid due to a defective notice under Section 274, lack of specific incriminating material linking the surrendered income, and the voluntary nature of the surrender. Consequently, the penalty was deleted for all the assessment years in question, and the assessee's appeals were allowed. en-us Mon, 19 Sep 2016 00:00:00 +0530 Fri, 14 Oct 2016 13:46:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333472 The Tribunal found the penalty imposed under Section 271(1)(c) to be invalid due to a defective notice under Section 274, lack of specific incriminating material linking the surrendered income, and the voluntary nature of the surrender. Consequently, the penalty was deleted for all the assessment years in question, and the assessee's appeals were allowed. Case-Laws Income Tax Mon, 19 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333472