https://www.taxtmi.com/caselaws?id=403248 The Tribunal allowed the appeal of the assessee, finding that the penalty imposed under section 271(1)(c) of the IT Act was unsustainable due to the lack of a specific charge for concealment of income or furnishing inaccurate particulars of income in the penalty notice. Emphasizing the importance of clear charges in penalty proceedings, the Tribunal referred to relevant judicial pronouncements and set aside the penalty, directing the Assessing Officer to cancel it. en-us Thu, 21 Jan 2021 00:00:00 +0530 Fri, 22 Jan 2021 11:32:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403248 The Tribunal allowed the appeal of the assessee, finding that the penalty imposed under section 271(1)(c) of the IT Act was unsustainable due to the lack of a specific charge for concealment of income or furnishing inaccurate particulars of income in the penalty notice. Emphasizing the importance of clear charges in penalty proceedings, the Tribunal referred to relevant judicial pronouncements and set aside the penalty, directing the Assessing Officer to cancel it. Case-Laws Income Tax Thu, 21 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403248