https://www.taxtmi.com/caselaws?id=378236 The Tribunal allowed the appeal, ruling the penalty proceedings under Section 271(1)(c) invalid due to the lack of specificity in the show cause notice. Citing precedents, the Tribunal emphasized the need for clear charges in penalty notices. The penalty of Rs. 13,74,146/- imposed on the assessee was canceled as the AO failed to specify whether it was for concealment of income or furnishing inaccurate particulars, rendering the penalty proceedings void. en-us Tue, 09 Apr 2019 00:00:00 +0530 Thu, 11 Apr 2019 05:16:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378236 The Tribunal allowed the appeal, ruling the penalty proceedings under Section 271(1)(c) invalid due to the lack of specificity in the show cause notice. Citing precedents, the Tribunal emphasized the need for clear charges in penalty notices. The penalty of Rs. 13,74,146/- imposed on the assessee was canceled as the AO failed to specify whether it was for concealment of income or furnishing inaccurate particulars, rendering the penalty proceedings void. Case-Laws Income Tax Tue, 09 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378236