https://www.taxtmi.com/caselaws?id=337316 The Tribunal held that the initiation of penalty proceedings under Section 271(1)(c) was invalid due to the non-specific notice issued under Section 274. The penalty of Rs. 1,22,400 imposed for willful concealment of income and furnishing inaccurate particulars was deemed unjustified as the Assessing Officer lacked concrete evidence and violated principles of natural justice. The Tribunal allowed the appeal, directing the deletion of the penalty. en-us Thu, 29 Dec 2016 00:00:00 +0530 Fri, 06 Jan 2017 20:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337316 The Tribunal held that the initiation of penalty proceedings under Section 271(1)(c) was invalid due to the non-specific notice issued under Section 274. The penalty of Rs. 1,22,400 imposed for willful concealment of income and furnishing inaccurate particulars was deemed unjustified as the Assessing Officer lacked concrete evidence and violated principles of natural justice. The Tribunal allowed the appeal, directing the deletion of the penalty. Case-Laws Income Tax Thu, 29 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337316