https://www.taxtmi.com/caselaws?id=375698 The Tribunal allowed the assessee's appeals, quashing the penalties imposed under Section 271(1)(c) of the Income Tax Act, 1961. The decision, pronounced on 20/02/2019, emphasized the necessity of clear penalty notices under Section 274, aligning with judicial precedents favoring the assessee when ambiguity exists in the notice specifying charges for "concealment of income" or "furnishing inaccurate particulars of income." en-us Wed, 20 Feb 2019 00:00:00 +0530 Sat, 23 Feb 2019 08:57:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375698 The Tribunal allowed the assessee's appeals, quashing the penalties imposed under Section 271(1)(c) of the Income Tax Act, 1961. The decision, pronounced on 20/02/2019, emphasized the necessity of clear penalty notices under Section 274, aligning with judicial precedents favoring the assessee when ambiguity exists in the notice specifying charges for "concealment of income" or "furnishing inaccurate particulars of income." Case-Laws Income Tax Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375698