https://www.taxtmi.com/caselaws?id=360178 The Tribunal allowed the appeal of the assessee, canceling the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found the show cause notice defective as it did not specify whether the penalty was for concealment of income or furnishing inaccurate particulars of income. As a result, the imposition of penalty and its confirmation were deemed unsustainable, leading to the cancellation of the penalty. en-us Fri, 04 May 2018 00:00:00 +0530 Fri, 11 May 2018 08:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360178 The Tribunal allowed the appeal of the assessee, canceling the penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961. The Tribunal found the show cause notice defective as it did not specify whether the penalty was for concealment of income or furnishing inaccurate particulars of income. As a result, the imposition of penalty and its confirmation were deemed unsustainable, leading to the cancellation of the penalty. Case-Laws Income Tax Fri, 04 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360178