https://www.taxtmi.com/caselaws?id=337101 The Tribunal quashed the levy of penalties in a case involving the Chhoriya group under Section 271(1)(c) of the Income Tax Act, 1961. The penalties imposed for concealing income were invalidated due to an ambiguous notice issued under Section 274, following the precedent set in a similar case. The Tribunal found the Assessing Officer's satisfaction unclear, leading to the deletion of penalties. As a result, the penalties imposed on the assessee for the assessment years were quashed, and the appeals were allowed. en-us Wed, 14 Dec 2016 00:00:00 +0530 Tue, 03 Jan 2017 12:16:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337101 The Tribunal quashed the levy of penalties in a case involving the Chhoriya group under Section 271(1)(c) of the Income Tax Act, 1961. The penalties imposed for concealing income were invalidated due to an ambiguous notice issued under Section 274, following the precedent set in a similar case. The Tribunal found the Assessing Officer's satisfaction unclear, leading to the deletion of penalties. As a result, the penalties imposed on the assessee for the assessment years were quashed, and the appeals were allowed. Case-Laws Income Tax Wed, 14 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337101