https://www.taxtmi.com/caselaws?id=342744 The Tribunal found the penalty proceedings under section 271(1)(c) of the Income-tax Act legally flawed as the Assessing Officer failed to specify whether the penalty was for concealment of income or furnishing inaccurate particulars. The Tribunal emphasized the need for clear satisfaction and specific charges in penalty proceedings. Consequently, the Tribunal allowed the appeal, directing the AO to delete the penalty and highlighting the importance of procedural requirements and principles of natural justice. en-us Wed, 03 May 2017 00:00:00 +0530 Thu, 11 May 2017 07:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342744 The Tribunal found the penalty proceedings under section 271(1)(c) of the Income-tax Act legally flawed as the Assessing Officer failed to specify whether the penalty was for concealment of income or furnishing inaccurate particulars. The Tribunal emphasized the need for clear satisfaction and specific charges in penalty proceedings. Consequently, the Tribunal allowed the appeal, directing the AO to delete the penalty and highlighting the importance of procedural requirements and principles of natural justice. Case-Laws Income Tax Wed, 03 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342744