https://www.taxtmi.com/caselaws?id=360142 The Tribunal dismissed the penalty under Section 271(1)(c) of the Income Tax Act. The assessee voluntarily disclosed the income during a survey, paid taxes before filing the return, and the omission was deemed inadvertent. The penalty notice lacked specificity on the charge, as required by law. Consequently, the penalty imposed by the Assessing Officer and upheld by the CIT(A) was overturned, and the assessee's appeal was successful. en-us Mon, 07 May 2018 00:00:00 +0530 Thu, 10 May 2018 08:41:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360142 The Tribunal dismissed the penalty under Section 271(1)(c) of the Income Tax Act. The assessee voluntarily disclosed the income during a survey, paid taxes before filing the return, and the omission was deemed inadvertent. The penalty notice lacked specificity on the charge, as required by law. Consequently, the penalty imposed by the Assessing Officer and upheld by the CIT(A) was overturned, and the assessee's appeal was successful. Case-Laws Income Tax Mon, 07 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360142