https://www.taxtmi.com/caselaws?id=417361 The ITAT partially allowed the appeal against the penalty order imposed under section 271(1)(c) of the Income Tax Act for Assessment Year 2010-11. The penalty was deemed invalid as the AO failed to specify the charge of concealment or inaccurate particulars, following a High Court precedent requiring specific charges for penalties to be sustainable. The ITAT emphasized procedural compliance, setting aside the penalty due to the technical irregularity, leading to the partial allowance of the assessee's appeal. en-us Wed, 15 Dec 2021 00:00:00 +0530 Fri, 21 Jan 2022 08:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417361 The ITAT partially allowed the appeal against the penalty order imposed under section 271(1)(c) of the Income Tax Act for Assessment Year 2010-11. The penalty was deemed invalid as the AO failed to specify the charge of concealment or inaccurate particulars, following a High Court precedent requiring specific charges for penalties to be sustainable. The ITAT emphasized procedural compliance, setting aside the penalty due to the technical irregularity, leading to the partial allowance of the assessee's appeal. Case-Laws Income Tax Wed, 15 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417361