https://www.taxtmi.com/caselaws?id=304964 The Tribunal found the penalty notice issued under section 271(1)(c) invalid as it did not specify whether it pertained to concealment of income or furnishing inaccurate particulars of income. Relying on legal precedents, the Tribunal emphasized the importance of clear grounds for penalty imposition. Consequently, the penalty imposed by the ld. CIT(A) was set aside, and the appeal was allowed in favor of the assessee. en-us Fri, 11 Nov 2016 00:00:00 +0530 Wed, 09 Nov 2022 08:00:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304964 The Tribunal found the penalty notice issued under section 271(1)(c) invalid as it did not specify whether it pertained to concealment of income or furnishing inaccurate particulars of income. Relying on legal precedents, the Tribunal emphasized the importance of clear grounds for penalty imposition. Consequently, the penalty imposed by the ld. CIT(A) was set aside, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 11 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304964