https://www.taxtmi.com/caselaws?id=389722 The Tribunal allowed the appeal, stressing the importance of adhering to legal procedures in penalty proceedings. It emphasized the necessity of clearly specifying charges in penalty notices under section 271(1)(c) of the Income Tax Act, 1961, and highlighted the lack of specificity in the penalty notice as a key factor in overturning the penalty order. The Tribunal underscored the requirement for a definitive finding on concealment or inaccuracies in income particulars before imposing penalties, ultimately ruling in favor of the appellant due to procedural non-compliance and lack of specific charges. en-us Mon, 11 Nov 2019 00:00:00 +0530 Mon, 16 Dec 2019 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389722 The Tribunal allowed the appeal, stressing the importance of adhering to legal procedures in penalty proceedings. It emphasized the necessity of clearly specifying charges in penalty notices under section 271(1)(c) of the Income Tax Act, 1961, and highlighted the lack of specificity in the penalty notice as a key factor in overturning the penalty order. The Tribunal underscored the requirement for a definitive finding on concealment or inaccuracies in income particulars before imposing penalties, ultimately ruling in favor of the appellant due to procedural non-compliance and lack of specific charges. Case-Laws Income Tax Mon, 11 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389722