https://www.taxtmi.com/caselaws?id=362450 The Tribunal found in favor of the assessee, a civil contractor, in a tax penalty case. It held that the penalty under Section 271(1)(c) of the Income-tax Act was unjustified as the Assessing Officer did not prove concealment of income or furnishing inaccurate particulars. The initiation of penalty proceedings was deemed invalid due to lack of specific satisfaction by the AO. The show-cause notice under Section 274 was also found invalid for not specifying the grounds for penalty. The Tribunal emphasized that penalties cannot be imposed without clear evidence of non-compliance. The penalty was deleted, and the appeal was partly allowed. en-us Thu, 21 Jun 2018 00:00:00 +0530 Tue, 26 Jun 2018 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362450 The Tribunal found in favor of the assessee, a civil contractor, in a tax penalty case. It held that the penalty under Section 271(1)(c) of the Income-tax Act was unjustified as the Assessing Officer did not prove concealment of income or furnishing inaccurate particulars. The initiation of penalty proceedings was deemed invalid due to lack of specific satisfaction by the AO. The show-cause notice under Section 274 was also found invalid for not specifying the grounds for penalty. The Tribunal emphasized that penalties cannot be imposed without clear evidence of non-compliance. The penalty was deleted, and the appeal was partly allowed. Case-Laws Income Tax Thu, 21 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362450