https://www.taxtmi.com/caselaws?id=396763 Penalty for concealment or furnishing inaccurate particulars requires a clear specification of the precise statutory charge. Ambiguous penalty language that does not identify the applicable limb creates a fatal defect, rendering the penalty unsustainable. Penalty also cannot ordinarily be imposed merely because income has been enhanced through an estimated gross-profit addition; an estimated assessment alone does not establish concealment. Penalties imposed on these grounds were liable to be deleted, subject to the respective appellate relief in connected matters. en-us Mon, 01 Jun 2020 00:00:00 +0530 Fri, 08 Nov 2024 13:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396763 Penalty for concealment or furnishing inaccurate particulars requires a clear specification of the precise statutory charge. Ambiguous penalty language that does not identify the applicable limb creates a fatal defect, rendering the penalty unsustainable. Penalty also cannot ordinarily be imposed merely because income has been enhanced through an estimated gross-profit addition; an estimated assessment alone does not establish concealment. Penalties imposed on these grounds were liable to be deleted, subject to the respective appellate relief in connected matters. Case-Laws Income Tax Mon, 01 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396763