https://www.taxtmi.com/caselaws?id=420302 The Tribunal allowed the Assessee's appeal, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found the notice issued by the Assessing Officer lacked specification of the penalty limb, rendering it invalid and the penalty not leviable. Emphasizing the importance of clarity in specifying the penalty limb, the Tribunal aligned with legal precedents requiring clear notices for valid imposition of penalties for concealing or furnishing inaccurate particulars of income. en-us Tue, 29 Mar 2022 00:00:00 +0530 Thu, 31 Mar 2022 08:23:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420302 The Tribunal allowed the Assessee's appeal, setting aside the penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found the notice issued by the Assessing Officer lacked specification of the penalty limb, rendering it invalid and the penalty not leviable. Emphasizing the importance of clarity in specifying the penalty limb, the Tribunal aligned with legal precedents requiring clear notices for valid imposition of penalties for concealing or furnishing inaccurate particulars of income. Case-Laws Income Tax Tue, 29 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420302