https://www.taxtmi.com/caselaws?id=420173 The Tribunal allowed the Assessee's appeal, finding the notice issued by the Assessing Officer invalid for not specifying the relevant limb under section 271(1)(c) of the Income Tax Act, 1961. As the notice lacked clarity on whether the penalty was for concealment of income or furnishing inaccurate particulars, it was considered issued in a stereotyped manner without proper application of mind. Consequently, the penalty was deemed not leviable, leading to the deletion of the penalty imposed by the Assessing Officer and affirmed by the Commissioner. en-us Thu, 24 Mar 2022 00:00:00 +0530 Tue, 29 Mar 2022 08:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420173 The Tribunal allowed the Assessee's appeal, finding the notice issued by the Assessing Officer invalid for not specifying the relevant limb under section 271(1)(c) of the Income Tax Act, 1961. As the notice lacked clarity on whether the penalty was for concealment of income or furnishing inaccurate particulars, it was considered issued in a stereotyped manner without proper application of mind. Consequently, the penalty was deemed not leviable, leading to the deletion of the penalty imposed by the Assessing Officer and affirmed by the Commissioner. Case-Laws Income Tax Thu, 24 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420173