https://www.taxtmi.com/caselaws?id=363504 The Tribunal upheld the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars of income. Despite a defective notice, the penalty proceedings were deemed valid as the final order specified the charge clearly. The Tribunal found no violation of natural justice in considering written submissions and confirmed the penalty due to incorrect deduction claims under sections 54EC and 54G. Agreeing to an addition during section 263 proceedings did not exempt the assessee from penalty, as ignorance of the law was not a valid defense. The appeal was dismissed, and the penalty was upheld based on legal provisions and case distinctions. en-us Tue, 03 Jul 2018 00:00:00 +0530 Fri, 13 Jul 2018 06:14:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363504 The Tribunal upheld the penalty imposed under section 271(1)(c) for furnishing inaccurate particulars of income. Despite a defective notice, the penalty proceedings were deemed valid as the final order specified the charge clearly. The Tribunal found no violation of natural justice in considering written submissions and confirmed the penalty due to incorrect deduction claims under sections 54EC and 54G. Agreeing to an addition during section 263 proceedings did not exempt the assessee from penalty, as ignorance of the law was not a valid defense. The appeal was dismissed, and the penalty was upheld based on legal provisions and case distinctions. Case-Laws Income Tax Tue, 03 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363504