https://www.taxtmi.com/caselaws?id=357928 The Tribunal found the initiation of penalty proceedings under Section 271(1)(c) of the Income Tax Act invalid due to the lack of specificity in the notice issued by the Assessing Officer. The ambiguity in the charge and failure to specify whether the penalty was for "concealment of income" or "furnishing inaccurate particulars of income" rendered the penalty proceedings invalid. Consequently, the penalty imposed was deleted, and the appeal by the assessee was allowed. en-us Mon, 05 Mar 2018 00:00:00 +0530 Mon, 02 Apr 2018 09:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357928 The Tribunal found the initiation of penalty proceedings under Section 271(1)(c) of the Income Tax Act invalid due to the lack of specificity in the notice issued by the Assessing Officer. The ambiguity in the charge and failure to specify whether the penalty was for "concealment of income" or "furnishing inaccurate particulars of income" rendered the penalty proceedings invalid. Consequently, the penalty imposed was deleted, and the appeal by the assessee was allowed. Case-Laws Income Tax Mon, 05 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357928