https://www.taxtmi.com/caselaws?id=439697 The Tribunal ruled in favor of the assessee in a case concerning the validity of a penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the notice issued by the Assessing Officer was defective as it did not clearly specify the charge of concealment of income or furnishing inaccurate particulars of income. Citing legal precedents, the Tribunal held that the penalty imposed under section 271(1)(c) was invalid and consequently deleted the penalty. en-us Tue, 27 Jun 2023 00:00:00 +0530 Thu, 29 Jun 2023 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439697 The Tribunal ruled in favor of the assessee in a case concerning the validity of a penalty imposed under section 271(1)(c) of the Income Tax Act. The Tribunal found that the notice issued by the Assessing Officer was defective as it did not clearly specify the charge of concealment of income or furnishing inaccurate particulars of income. Citing legal precedents, the Tribunal held that the penalty imposed under section 271(1)(c) was invalid and consequently deleted the penalty. Case-Laws Income Tax Tue, 27 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439697