https://www.taxtmi.com/caselaws?id=382532 The Tribunal found the notice issued by the Assessing Officer under section 271(1)(c) of the Income Tax Act to be vague and invalid as it did not specify whether the penalty proceedings were for concealment of income or furnishing inaccurate particulars. Relying on relevant case laws and precedents, the Tribunal canceled the penalty order, emphasizing the importance of clearly stating the grounds for penalty proceedings to uphold natural justice principles. Consequently, the appeal was allowed, and the penalty order was revoked, ensuring procedural fairness in tax penalty cases. en-us Wed, 03 Jul 2019 00:00:00 +0530 Fri, 05 Jul 2019 06:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382532 The Tribunal found the notice issued by the Assessing Officer under section 271(1)(c) of the Income Tax Act to be vague and invalid as it did not specify whether the penalty proceedings were for concealment of income or furnishing inaccurate particulars. Relying on relevant case laws and precedents, the Tribunal canceled the penalty order, emphasizing the importance of clearly stating the grounds for penalty proceedings to uphold natural justice principles. Consequently, the appeal was allowed, and the penalty order was revoked, ensuring procedural fairness in tax penalty cases. Case-Laws Income Tax Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382532