https://www.taxtmi.com/caselaws?id=356963 The tribunal found the penalty imposed under section 271(1)(c) of the Income Tax Act unsustainable due to the ambiguous notice issued by the assessing officer and the lack of clear findings on concealment of income or furnishing inaccurate particulars. The penalty of Rs. 10,41,586/- was canceled, and the appeal by the assessee was allowed. The tribunal emphasized the importance of fair hearings and pronounced its decision on 12/03/2018. en-us Mon, 12 Mar 2018 00:00:00 +0530 Thu, 15 Mar 2018 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356963 The tribunal found the penalty imposed under section 271(1)(c) of the Income Tax Act unsustainable due to the ambiguous notice issued by the assessing officer and the lack of clear findings on concealment of income or furnishing inaccurate particulars. The penalty of Rs. 10,41,586/- was canceled, and the appeal by the assessee was allowed. The tribunal emphasized the importance of fair hearings and pronounced its decision on 12/03/2018. Case-Laws Income Tax Mon, 12 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356963