https://www.taxtmi.com/caselaws?id=376293 The Tribunal invalidated the penalty imposed under Section 271(1)(c) of the Income Tax Act due to a defective notice and lack of clear determination by the Assessing Officer regarding the specific charge of concealment of income or furnishing inaccurate particulars. The appeal by the assessee was allowed, setting aside the penalty. Emphasizing the importance of specificity in penalty proceedings, the Tribunal highlighted the need for clear charges to uphold principles of natural justice, contrasting its decision with precedents where penalties were sustained despite similar defects in notices. en-us Thu, 28 Feb 2019 00:00:00 +0530 Wed, 06 Mar 2019 06:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376293 The Tribunal invalidated the penalty imposed under Section 271(1)(c) of the Income Tax Act due to a defective notice and lack of clear determination by the Assessing Officer regarding the specific charge of concealment of income or furnishing inaccurate particulars. The appeal by the assessee was allowed, setting aside the penalty. Emphasizing the importance of specificity in penalty proceedings, the Tribunal highlighted the need for clear charges to uphold principles of natural justice, contrasting its decision with precedents where penalties were sustained despite similar defects in notices. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376293