https://www.taxtmi.com/caselaws?id=278454 The Tribunal set aside penalty orders for the relevant assessment years, ruling that the notice issued by the Assessing Officer was invalid as it failed to specify the reason for initiating penalty proceedings, distinguishing between concealing income and furnishing inaccurate particulars. Emphasizing the importance of clarity in notice issuance, the Tribunal allowed the appeals solely on legal grounds, highlighting the necessity of a valid notice specifying the grounds for penalty imposition to ensure fairness and adherence to natural justice principles in penalty proceedings. en-us Mon, 05 Mar 2018 00:00:00 +0530 Mon, 04 Feb 2019 06:52:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278454 The Tribunal set aside penalty orders for the relevant assessment years, ruling that the notice issued by the Assessing Officer was invalid as it failed to specify the reason for initiating penalty proceedings, distinguishing between concealing income and furnishing inaccurate particulars. Emphasizing the importance of clarity in notice issuance, the Tribunal allowed the appeals solely on legal grounds, highlighting the necessity of a valid notice specifying the grounds for penalty imposition to ensure fairness and adherence to natural justice principles in penalty proceedings. Case-Laws Income Tax Mon, 05 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278454