https://www.taxtmi.com/caselaws?id=287414 The Tribunal overturned the penalty of Rs. 25,000 imposed under section 271(1)(c) for concealment of income as the AO failed to establish the grounds for penalty initiation, rendering it unsustainable. The High Court emphasized the necessity of specifying charges to sustain penalties, leading to the deletion of the penalty imposed and confirmed by the CIT(A). The decision underscores the importance of adhering to legal requirements in penalty proceedings and providing clear grounds for penalty imposition to ensure sustainability. en-us Tue, 18 Dec 2018 00:00:00 +0530 Tue, 14 Apr 2020 11:11:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287414 The Tribunal overturned the penalty of Rs. 25,000 imposed under section 271(1)(c) for concealment of income as the AO failed to establish the grounds for penalty initiation, rendering it unsustainable. The High Court emphasized the necessity of specifying charges to sustain penalties, leading to the deletion of the penalty imposed and confirmed by the CIT(A). The decision underscores the importance of adhering to legal requirements in penalty proceedings and providing clear grounds for penalty imposition to ensure sustainability. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287414