https://www.taxtmi.com/caselaws?id=361203 The Tribunal ruled in favor of the assessee, overturning the penalty imposed for excess exemption claimed under section 54F due to the lack of specific charges mentioned in the penalty order, as required by law. The penalty was set aside as it was deemed unsustainable without a clear finding on whether it was for concealment of income or furnishing inaccurate particulars. The Tribunal refrained from addressing the merits of the appeal, solely focusing on the technical deficiency in the penalty order. en-us Tue, 29 May 2018 00:00:00 +0530 Thu, 31 May 2018 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361203 The Tribunal ruled in favor of the assessee, overturning the penalty imposed for excess exemption claimed under section 54F due to the lack of specific charges mentioned in the penalty order, as required by law. The penalty was set aside as it was deemed unsustainable without a clear finding on whether it was for concealment of income or furnishing inaccurate particulars. The Tribunal refrained from addressing the merits of the appeal, solely focusing on the technical deficiency in the penalty order. Case-Laws Income Tax Tue, 29 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361203