https://www.taxtmi.com/caselaws?id=303087 The Appellate Tribunal found that the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 was unsustainable as it was initiated and levied without specifying whether the alleged guilt was for "concealment of income" or furnishing "inaccurate particulars of income." The lack of specific charges in the penalty order led to its deletion, and the assessee's appeal was allowed. The Tribunal emphasized the necessity of clearly delineating the charges to ensure the validity of penalties under the Act. en-us Fri, 06 Dec 2019 00:00:00 +0530 Sun, 03 Jul 2022 19:46:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303087 The Appellate Tribunal found that the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 was unsustainable as it was initiated and levied without specifying whether the alleged guilt was for "concealment of income" or furnishing "inaccurate particulars of income." The lack of specific charges in the penalty order led to its deletion, and the assessee's appeal was allowed. The Tribunal emphasized the necessity of clearly delineating the charges to ensure the validity of penalties under the Act. Case-Laws Income Tax Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303087