https://www.taxtmi.com/caselaws?id=335465 The Tribunal directed the AO to delete the penalty imposed under section 271(1)(c) for AY 2008-09 as the imposition was not justified. The decision emphasized the importance of providing a precise charge and a reasonable opportunity for defense before penalizing for concealment of income or furnishing inaccurate particulars. The appellant's failure to explain unexplained cash deposits led to the penalty, which was upheld initially but later deleted by the Tribunal due to procedural irregularities. The judgment underscored the necessity of accurate disclosure of income particulars to avoid penalty under the Income Tax Act. en-us Tue, 29 Nov 2016 00:00:00 +0530 Fri, 02 Dec 2016 21:46:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335465 The Tribunal directed the AO to delete the penalty imposed under section 271(1)(c) for AY 2008-09 as the imposition was not justified. The decision emphasized the importance of providing a precise charge and a reasonable opportunity for defense before penalizing for concealment of income or furnishing inaccurate particulars. The appellant's failure to explain unexplained cash deposits led to the penalty, which was upheld initially but later deleted by the Tribunal due to procedural irregularities. The judgment underscored the necessity of accurate disclosure of income particulars to avoid penalty under the Income Tax Act. Case-Laws Income Tax Tue, 29 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335465