https://www.taxtmi.com/caselaws?id=411229 A penalty under section 271(1)(c) of the Income-tax Act could not be sustained where the section 274 notice failed to specify whether the alleged default was concealment of income or furnishing inaccurate particulars of income. The Tribunal treated the vague and ambiguous notice as a defect going to the root of the penalty initiation, because the assessee must know the exact charge to meet it effectively. On that basis, the penalty proceedings were held unsustainable and the penalty was deleted. en-us Tue, 17 Aug 2021 00:00:00 +0530 Thu, 19 Aug 2021 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411229 A penalty under section 271(1)(c) of the Income-tax Act could not be sustained where the section 274 notice failed to specify whether the alleged default was concealment of income or furnishing inaccurate particulars of income. The Tribunal treated the vague and ambiguous notice as a defect going to the root of the penalty initiation, because the assessee must know the exact charge to meet it effectively. On that basis, the penalty proceedings were held unsustainable and the penalty was deleted. Case-Laws Income Tax Tue, 17 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411229