https://www.taxtmi.com/caselaws?id=398743 The Tribunal allowed the appeals in favor of the assessee, directing the Assessing Officer to delete the penalties imposed for the assessment years 2006-07 to 2008-09 under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the penalty proceedings were void ab initio due to the vague and ambiguous notice issued by the AO, which failed to specify whether the charge was for concealing income or furnishing inaccurate particulars of income. The decision emphasized the importance of clarity in penalty notices and adherence to procedural requirements for a fair process for the assessee. en-us Fri, 11 Sep 2020 00:00:00 +0530 Wed, 23 Sep 2020 10:33:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398743 The Tribunal allowed the appeals in favor of the assessee, directing the Assessing Officer to delete the penalties imposed for the assessment years 2006-07 to 2008-09 under section 271(1)(c) of the Income Tax Act, 1961. The Tribunal found that the penalty proceedings were void ab initio due to the vague and ambiguous notice issued by the AO, which failed to specify whether the charge was for concealing income or furnishing inaccurate particulars of income. The decision emphasized the importance of clarity in penalty notices and adherence to procedural requirements for a fair process for the assessee. Case-Laws Income Tax Fri, 11 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398743