https://www.taxtmi.com/caselaws?id=371433 The Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, as the show-cause notice lacked specificity, rendering the penalty order invalid. The Tribunal emphasized the necessity of clear and specific grounds for imposing penalties, following the principles of natural justice. The penalty proceedings should distinctly state whether they are for concealing income or furnishing inaccurate particulars, failing which the penalty imposition is deemed invalid. en-us Fri, 30 Nov 2018 00:00:00 +0530 Tue, 04 Dec 2018 09:00:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371433 The Tribunal allowed the appeal, canceling the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, as the show-cause notice lacked specificity, rendering the penalty order invalid. The Tribunal emphasized the necessity of clear and specific grounds for imposing penalties, following the principles of natural justice. The penalty proceedings should distinctly state whether they are for concealing income or furnishing inaccurate particulars, failing which the penalty imposition is deemed invalid. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371433