https://www.taxtmi.com/caselaws?id=333505 The Tribunal allowed the appellant's appeal against the penalty levied under section 271(1)(c) of the Income Tax Act for the assessment year 2010-11. The Tribunal deemed the penalty invalid due to the lack of clarity in the notice issued by the Assessing Officer regarding the grounds of concealment or furnishing inaccurate particulars of income. The decision was based on the admission of additional legal grounds challenging the validity of the penalty notice, following the precedent set by the Karnataka High Court in a similar case. Consequently, the penalty was set aside, and the appeal was allowed. en-us Fri, 19 Aug 2016 00:00:00 +0530 Sat, 15 Oct 2016 11:28:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333505 The Tribunal allowed the appellant's appeal against the penalty levied under section 271(1)(c) of the Income Tax Act for the assessment year 2010-11. The Tribunal deemed the penalty invalid due to the lack of clarity in the notice issued by the Assessing Officer regarding the grounds of concealment or furnishing inaccurate particulars of income. The decision was based on the admission of additional legal grounds challenging the validity of the penalty notice, following the precedent set by the Karnataka High Court in a similar case. Consequently, the penalty was set aside, and the appeal was allowed. Case-Laws Income Tax Fri, 19 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333505