https://www.taxtmi.com/caselaws?id=397502 Penalty under section 271(1)(c) depends on a clear and consistent notice specifying whether concealment of income or furnishing inaccurate particulars is alleged; a notice that leaves the wrong limb intact shows non-application of mind and creates a jurisdictional defect, so the penalty cannot stand. On the facts disclosed, the assessee had fully disclosed the sale agreement and relevant material, and the dispute concerned only the year of taxability. An unsustainable legal claim made on complete disclosure does not, by itself, amount to furnishing inaccurate particulars. The penalty was therefore unsustainable. en-us Mon, 17 Aug 2020 00:00:00 +0530 Wed, 19 Aug 2020 18:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397502 Penalty under section 271(1)(c) depends on a clear and consistent notice specifying whether concealment of income or furnishing inaccurate particulars is alleged; a notice that leaves the wrong limb intact shows non-application of mind and creates a jurisdictional defect, so the penalty cannot stand. On the facts disclosed, the assessee had fully disclosed the sale agreement and relevant material, and the dispute concerned only the year of taxability. An unsustainable legal claim made on complete disclosure does not, by itself, amount to furnishing inaccurate particulars. The penalty was therefore unsustainable. Case-Laws Income Tax Mon, 17 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397502