https://www.taxtmi.com/caselaws?id=379079 The Tribunal allowed the assessee's appeal for Assessment Year 2011-12, canceling the penalty levied under section 271(1)(c) of the Income Tax Act. The penalty was deemed invalid due to defects in the notice issued under section 274 r.w.s. 271(1)(c) as it did not specify whether it was for concealment of income or furnishing inaccurate particulars. The Tribunal held that penalty proceedings must be based on specific grounds mentioned in the order, and the lack of clarity in the notice rendered it invalid, leading to the cancellation of the penalty. en-us Wed, 24 Apr 2019 00:00:00 +0530 Sat, 27 Apr 2019 06:38:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379079 The Tribunal allowed the assessee's appeal for Assessment Year 2011-12, canceling the penalty levied under section 271(1)(c) of the Income Tax Act. The penalty was deemed invalid due to defects in the notice issued under section 274 r.w.s. 271(1)(c) as it did not specify whether it was for concealment of income or furnishing inaccurate particulars. The Tribunal held that penalty proceedings must be based on specific grounds mentioned in the order, and the lack of clarity in the notice rendered it invalid, leading to the cancellation of the penalty. Case-Laws Income Tax Wed, 24 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379079