https://www.taxtmi.com/caselaws?id=359153 The ITAT Lucknow allowed the appeal, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The decision was based on the lack of specificity in the penalty notice and the absence of a clear distinction between concealment and furnishing inaccurate particulars of income. The judgment emphasized procedural clarity and adherence to legal requirements in penalty proceedings to protect the rights of the assessee. en-us Mon, 05 Mar 2018 00:00:00 +0530 Wed, 25 Apr 2018 06:17:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359153 The ITAT Lucknow allowed the appeal, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The decision was based on the lack of specificity in the penalty notice and the absence of a clear distinction between concealment and furnishing inaccurate particulars of income. The judgment emphasized procedural clarity and adherence to legal requirements in penalty proceedings to protect the rights of the assessee. Case-Laws Income Tax Mon, 05 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359153