https://www.taxtmi.com/caselaws?id=340301 The Tribunal set aside the penalties imposed under Section 271(1)(c) of the Income Tax Act, 1961, as the Assessing Officer failed to specify whether they were for concealment of income or furnishing inaccurate particulars of income. The penalties related to disallowances of depreciation, disallowance under Section 40(a)(ia), and addition as unexplained cash credit. The Tribunal found the penalty notice issued without a specific charge to be illegal and directed the deletion of the penalties, allowing the appeals of the assessee. en-us Tue, 14 Mar 2017 00:00:00 +0530 Mon, 20 Mar 2017 09:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340301 The Tribunal set aside the penalties imposed under Section 271(1)(c) of the Income Tax Act, 1961, as the Assessing Officer failed to specify whether they were for concealment of income or furnishing inaccurate particulars of income. The penalties related to disallowances of depreciation, disallowance under Section 40(a)(ia), and addition as unexplained cash credit. The Tribunal found the penalty notice issued without a specific charge to be illegal and directed the deletion of the penalties, allowing the appeals of the assessee. Case-Laws Income Tax Tue, 14 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340301