https://www.taxtmi.com/caselaws?id=423381 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act for A.Y. 2014-15. The Tribunal found the notice issued by the Ld. AO to be defective as it did not specify whether the offense was concealment of income or furnishing inaccurate particulars of income. Citing judicial precedents, the Tribunal emphasized the importance of a clear notice for penalty proceedings. As the notice lacked specificity, the penalty was deemed unsustainable on legal grounds, leading to its deletion and allowing the appeal of the assessee. en-us Thu, 12 May 2022 00:00:00 +0530 Sat, 04 Jun 2022 15:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423381 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under section 271(1)(c) of the Income Tax Act for A.Y. 2014-15. The Tribunal found the notice issued by the Ld. AO to be defective as it did not specify whether the offense was concealment of income or furnishing inaccurate particulars of income. Citing judicial precedents, the Tribunal emphasized the importance of a clear notice for penalty proceedings. As the notice lacked specificity, the penalty was deemed unsustainable on legal grounds, leading to its deletion and allowing the appeal of the assessee. Case-Laws Income Tax Thu, 12 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423381