https://www.taxtmi.com/caselaws?id=395945 The Tribunal allowed the appeal against the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, for AY 2014-15. The penalty was annulled due to a defective notice that failed to specify whether the assessee had concealed income particulars or furnished inaccurate income particulars. Relying on precedents, the Tribunal emphasized the necessity of a specific charge in the notice for penalty imposition. The decision highlighted the importance of procedural compliance and ensuring that notices clearly inform the assessee of the charges to maintain the validity of penalty proceedings. en-us Fri, 12 Jun 2020 00:00:00 +0530 Sat, 13 Jun 2020 14:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395945 The Tribunal allowed the appeal against the penalty imposed under section 271(1)(c) of the Income-tax Act, 1961, for AY 2014-15. The penalty was annulled due to a defective notice that failed to specify whether the assessee had concealed income particulars or furnished inaccurate income particulars. Relying on precedents, the Tribunal emphasized the necessity of a specific charge in the notice for penalty imposition. The decision highlighted the importance of procedural compliance and ensuring that notices clearly inform the assessee of the charges to maintain the validity of penalty proceedings. Case-Laws Income Tax Fri, 12 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395945