https://www.taxtmi.com/caselaws?id=401775 The court allowed the appeal, setting aside the Tribunal's order and ruling in favor of the assessee. The notice initiating penalty proceedings was deemed defective and invalid, as the Assessing Officer failed to prove concealment of income. The court held that the explanations provided were satisfactory, and the penalty imposition was unjustified. en-us Tue, 08 Dec 2020 00:00:00 +0530 Mon, 18 Jan 2021 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401775 The court allowed the appeal, setting aside the Tribunal's order and ruling in favor of the assessee. The notice initiating penalty proceedings was deemed defective and invalid, as the Assessing Officer failed to prove concealment of income. The court held that the explanations provided were satisfactory, and the penalty imposition was unjustified. Case-Laws Income Tax Tue, 08 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401775