https://www.taxtmi.com/caselaws?id=279466 The penalties imposed under section 271(1)(c) of the Income Tax Act for Assessment Years 2002-03 and 2003-04 were challenged by the Revenue. The penalty for 2002-03 was deleted as there was no concealment or inaccurate particulars of income. For 2003-04, the penalty initiation was flawed due to a lack of clarity in specifying the charge, and the penalty was deemed vitiated. Additionally, the penalty for 2003-04 was deleted as there was no concealment or furnishing of inaccurate particulars of income, based on the disclosure of expenses. Both appeals by the Revenue were dismissed, and the penalties were deleted for both assessment years. en-us Thu, 31 May 2018 00:00:00 +0530 Mon, 18 Mar 2019 22:59:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279466 The penalties imposed under section 271(1)(c) of the Income Tax Act for Assessment Years 2002-03 and 2003-04 were challenged by the Revenue. The penalty for 2002-03 was deleted as there was no concealment or inaccurate particulars of income. For 2003-04, the penalty initiation was flawed due to a lack of clarity in specifying the charge, and the penalty was deemed vitiated. Additionally, the penalty for 2003-04 was deleted as there was no concealment or furnishing of inaccurate particulars of income, based on the disclosure of expenses. Both appeals by the Revenue were dismissed, and the penalties were deleted for both assessment years. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279466