https://www.taxtmi.com/caselaws?id=366684 The Tribunal found the penalty notice issued to the Assessee defective for not specifying the charge of concealing or furnishing inaccurate income particulars. Relying on precedents like Manjunatha Cotton and Ginning Factory and SSA's Emerald Meadows, the Tribunal canceled the penalty of Rs. 18,37,830/- imposed by the AO under Section 271(1)(c) of the Income Tax Act for the Assessment Year 2008-09. The appeal was decided in favor of the Assessee, setting aside the CIT-A's order. en-us Wed, 05 Sep 2018 00:00:00 +0530 Sat, 08 Sep 2018 08:09:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366684 The Tribunal found the penalty notice issued to the Assessee defective for not specifying the charge of concealing or furnishing inaccurate income particulars. Relying on precedents like Manjunatha Cotton and Ginning Factory and SSA's Emerald Meadows, the Tribunal canceled the penalty of Rs. 18,37,830/- imposed by the AO under Section 271(1)(c) of the Income Tax Act for the Assessment Year 2008-09. The appeal was decided in favor of the Assessee, setting aside the CIT-A's order. Case-Laws Income Tax Wed, 05 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366684