https://www.taxtmi.com/caselaws?id=346354 The Tribunal ruled in favor of the assessee, finding that the penalty under Section 271(1)(c) of the Income Tax Act was not justified as there was no concealment or furnishing of inaccurate particulars of income. The show cause notice was deemed defective for not specifying the exact charge. The Tribunal directed the Assessing Officer to delete the imposed penalty, leading to the deletion of penalties in related cases as well. The appeals of the assessee, Amit Agarwal, and Akash Kumar Agarwal were all allowed. en-us Fri, 23 Jun 2017 00:00:00 +0530 Wed, 09 Aug 2017 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346354 The Tribunal ruled in favor of the assessee, finding that the penalty under Section 271(1)(c) of the Income Tax Act was not justified as there was no concealment or furnishing of inaccurate particulars of income. The show cause notice was deemed defective for not specifying the exact charge. The Tribunal directed the Assessing Officer to delete the imposed penalty, leading to the deletion of penalties in related cases as well. The appeals of the assessee, Amit Agarwal, and Akash Kumar Agarwal were all allowed. Case-Laws Income Tax Fri, 23 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346354