https://www.taxtmi.com/caselaws?id=394680 The appeal was allowed, and the penalty order for concealment of income and furnishing of inaccurate particulars was set aside due to a defective notice issued by the Assessing Officer. The Tribunal emphasized that the notice must specify whether the penalty proceedings are for concealment of income or furnishing of inaccurate particulars, as per legal principles established in relevant case laws. The Tribunal directed the Assessing Officer to delete the penalty imposed on the assessee, citing precedents like Manjunatha Cotton & Ginning Factory, SSA's Emerald Meadows, and Sahara India Life Insurance Co Ltd. en-us Tue, 11 Feb 2020 00:00:00 +0530 Tue, 21 Apr 2020 13:31:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394680 The appeal was allowed, and the penalty order for concealment of income and furnishing of inaccurate particulars was set aside due to a defective notice issued by the Assessing Officer. The Tribunal emphasized that the notice must specify whether the penalty proceedings are for concealment of income or furnishing of inaccurate particulars, as per legal principles established in relevant case laws. The Tribunal directed the Assessing Officer to delete the penalty imposed on the assessee, citing precedents like Manjunatha Cotton & Ginning Factory, SSA's Emerald Meadows, and Sahara India Life Insurance Co Ltd. Case-Laws Income Tax Tue, 11 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394680