https://www.taxtmi.com/caselaws?id=371415 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income-tax Act, 1961, emphasizing that penalizing the assessee for both concealing income and furnishing inaccurate particulars was not justified. The Revenue's appeal was dismissed, and the penalty was deleted as the Assessing Officer failed to specify the grounds for penalty initiation and levied penalty for both aspects, leading to an invalid penalty order. en-us Tue, 16 Oct 2018 00:00:00 +0530 Tue, 04 Dec 2018 08:59:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371415 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income-tax Act, 1961, emphasizing that penalizing the assessee for both concealing income and furnishing inaccurate particulars was not justified. The Revenue's appeal was dismissed, and the penalty was deleted as the Assessing Officer failed to specify the grounds for penalty initiation and levied penalty for both aspects, leading to an invalid penalty order. Case-Laws Income Tax Tue, 16 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371415