https://www.taxtmi.com/caselaws?id=368816 The Tribunal allowed the appeal, setting aside the CIT(A)'s order and deleting the penalty. It found the penalty notice defective for not specifying the charge of "concealment of income" or "furnishing inaccurate particulars of income," as required by law. The Tribunal determined that the assessee's voluntary disclosure of income in the subsequent year showed no intention to conceal income, aligning with legal precedents that inadvertent mistakes should not attract penalties. The judgment emphasized the importance of clear charges in penalty notices and adherence to natural justice principles. en-us Fri, 03 Aug 2018 00:00:00 +0530 Mon, 15 Oct 2018 14:14:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368816 The Tribunal allowed the appeal, setting aside the CIT(A)'s order and deleting the penalty. It found the penalty notice defective for not specifying the charge of "concealment of income" or "furnishing inaccurate particulars of income," as required by law. The Tribunal determined that the assessee's voluntary disclosure of income in the subsequent year showed no intention to conceal income, aligning with legal precedents that inadvertent mistakes should not attract penalties. The judgment emphasized the importance of clear charges in penalty notices and adherence to natural justice principles. Case-Laws Income Tax Fri, 03 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368816