https://www.taxtmi.com/caselaws?id=374038 The Tribunal set aside the penalty of Rs. 19,033 imposed under section 271(1)(c) of the Income Tax Act, 1961, due to ambiguity in specifying the correct limb of the clause. The Assessing Officer failed to consistently identify the relevant limb (furnishing inaccurate particulars of income or concealing income) during both the initiation and levy stages of the penalty proceedings. This lack of clarity rendered the penalty order legally unsustainable, leading the Tribunal to quash the penalty and direct its deletion, supporting the assessee's appeal. The decision emphasized the necessity for clear identification of the applicable limb in penalty proceedings to ensure legal validity. en-us Mon, 21 Jan 2019 00:00:00 +0530 Thu, 24 Jan 2019 07:28:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374038 The Tribunal set aside the penalty of Rs. 19,033 imposed under section 271(1)(c) of the Income Tax Act, 1961, due to ambiguity in specifying the correct limb of the clause. The Assessing Officer failed to consistently identify the relevant limb (furnishing inaccurate particulars of income or concealing income) during both the initiation and levy stages of the penalty proceedings. This lack of clarity rendered the penalty order legally unsustainable, leading the Tribunal to quash the penalty and direct its deletion, supporting the assessee's appeal. The decision emphasized the necessity for clear identification of the applicable limb in penalty proceedings to ensure legal validity. Case-Laws Income Tax Mon, 21 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374038