https://www.taxtmi.com/caselaws?id=424557 The Tribunal allowed the appeal, setting aside the penalty under section 271(1)(c) of the Income Tax Act. The decision was based on the lack of a specific charge in the penalty proceedings and the merits of the additions made by the Assessing Officer. The judgment emphasized the importance of clearly specifying charges in penalty notices and ensuring penalties are imposed only in cases of genuine concealment of income. en-us Fri, 24 Jun 2022 00:00:00 +0530 Mon, 04 Jul 2022 09:08:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424557 The Tribunal allowed the appeal, setting aside the penalty under section 271(1)(c) of the Income Tax Act. The decision was based on the lack of a specific charge in the penalty proceedings and the merits of the additions made by the Assessing Officer. The judgment emphasized the importance of clearly specifying charges in penalty notices and ensuring penalties are imposed only in cases of genuine concealment of income. Case-Laws Income Tax Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424557