https://www.taxtmi.com/caselaws?id=383623 The Tribunal held that the penalty imposed on the assessee under section 271(1)(c) of the Income Tax Act was unsustainable due to the lack of specificity in the notice issued by the Assessing Officer. The notice failed to clearly indicate whether the penalty was for concealing income or furnishing inaccurate particulars, as required by legal standards. As a result, the penalty of Rs. 3,92,709 was deleted, and the assessee's appeal was allowed. en-us Tue, 23 Jul 2019 00:00:00 +0530 Sat, 27 Jul 2019 07:32:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383623 The Tribunal held that the penalty imposed on the assessee under section 271(1)(c) of the Income Tax Act was unsustainable due to the lack of specificity in the notice issued by the Assessing Officer. The notice failed to clearly indicate whether the penalty was for concealing income or furnishing inaccurate particulars, as required by legal standards. As a result, the penalty of Rs. 3,92,709 was deleted, and the assessee's appeal was allowed. Case-Laws Income Tax Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383623