https://www.taxtmi.com/caselaws?id=277748 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income Tax Act in favor of the assessee. The penalty notice failed to specify whether it was for concealing income or furnishing inaccurate particulars, violating the assessee's right to respond adequately. Citing legal precedents, the Tribunal concluded that the penalty was unsustainable due to the Assessing Officer's lack of proper application of mind. The appeal by the Revenue was dismissed, affirming the deletion of the penalty. The case highlights the importance of clear and specific penalty notices for procedural fairness and legal compliance. en-us Wed, 28 Feb 2018 00:00:00 +0530 Fri, 21 Dec 2018 05:51:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277748 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income Tax Act in favor of the assessee. The penalty notice failed to specify whether it was for concealing income or furnishing inaccurate particulars, violating the assessee's right to respond adequately. Citing legal precedents, the Tribunal concluded that the penalty was unsustainable due to the Assessing Officer's lack of proper application of mind. The appeal by the Revenue was dismissed, affirming the deletion of the penalty. The case highlights the importance of clear and specific penalty notices for procedural fairness and legal compliance. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277748