https://www.taxtmi.com/caselaws?id=279509 The Tribunal found the penalty proceedings initiated under Section 271(1)(c) of the Income Tax Act to be invalid due to the lack of specificity in the charge in the penalty notice. As the Assessing Officer failed to specify whether the penalty was for concealment of income or furnishing inaccurate particulars of income, the proceedings were deemed void ab initio. Consequently, the penalty order was quashed, and the penalty levied was deleted. The appeals of the assessee were allowed, and the Revenue's appeal was dismissed. en-us Fri, 21 Dec 2018 00:00:00 +0530 Fri, 22 Mar 2019 06:07:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279509 The Tribunal found the penalty proceedings initiated under Section 271(1)(c) of the Income Tax Act to be invalid due to the lack of specificity in the charge in the penalty notice. As the Assessing Officer failed to specify whether the penalty was for concealment of income or furnishing inaccurate particulars of income, the proceedings were deemed void ab initio. Consequently, the penalty order was quashed, and the penalty levied was deleted. The appeals of the assessee were allowed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279509