https://www.taxtmi.com/caselaws?id=373127 The Appellate Tribunal allowed the appeal, overturning the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal held that there was no evidence of deliberate concealment of income or furnishing inaccurate particulars. Emphasizing the importance of proper specification of charges in penalty notices, the Tribunal ruled in favor of the assessee, citing the lack of merit for the penalty based on the principles established in Reliance Petroproducts (P.) Ltd. en-us Thu, 03 Jan 2019 00:00:00 +0530 Mon, 07 Jan 2019 12:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373127 The Appellate Tribunal allowed the appeal, overturning the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal held that there was no evidence of deliberate concealment of income or furnishing inaccurate particulars. Emphasizing the importance of proper specification of charges in penalty notices, the Tribunal ruled in favor of the assessee, citing the lack of merit for the penalty based on the principles established in Reliance Petroproducts (P.) Ltd. Case-Laws Income Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373127