https://www.taxtmi.com/caselaws?id=339391 The Tribunal allowed the assessee's appeal and canceled the penalty imposed under section 271(1)(c) of the Income Tax Act. It held that the penalty was not justified as there was no evidence of concealment or furnishing inaccurate particulars by the assessee. Additionally, the Tribunal found the notice issued under section 274 read with section 271(1)(c) to be invalid as it did not specify the charge clearly, violating principles of natural justice. The penalty was quashed based on precedents where penalties were canceled due to non-specific charges in the notices. en-us Fri, 17 Feb 2017 00:00:00 +0530 Sat, 25 Feb 2017 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339391 The Tribunal allowed the assessee's appeal and canceled the penalty imposed under section 271(1)(c) of the Income Tax Act. It held that the penalty was not justified as there was no evidence of concealment or furnishing inaccurate particulars by the assessee. Additionally, the Tribunal found the notice issued under section 274 read with section 271(1)(c) to be invalid as it did not specify the charge clearly, violating principles of natural justice. The penalty was quashed based on precedents where penalties were canceled due to non-specific charges in the notices. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339391