https://www.taxtmi.com/caselaws?id=195172 The Tribunal allowed the appeal, holding the notice initiating penalty proceedings invalid due to lack of clarity on grounds for penalty initiation, specifying concealment of income or furnishing inaccurate particulars. The Tribunal emphasized the necessity for the Assessing Officer to clearly specify the default in the notice, setting aside the penalty order. The decision underscores the significance of procedural compliance in imposing penalties under the Income-tax Act, 1961. en-us Tue, 02 Feb 2016 00:00:00 +0530 Wed, 18 Oct 2017 11:14:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195172 The Tribunal allowed the appeal, holding the notice initiating penalty proceedings invalid due to lack of clarity on grounds for penalty initiation, specifying concealment of income or furnishing inaccurate particulars. The Tribunal emphasized the necessity for the Assessing Officer to clearly specify the default in the notice, setting aside the penalty order. The decision underscores the significance of procedural compliance in imposing penalties under the Income-tax Act, 1961. Case-Laws Income Tax Tue, 02 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195172