https://www.taxtmi.com/caselaws?id=439900 The Tribunal set aside the penalty order due to the Assessing Officer's failure to specify the charge of default in the penalty proceedings, making them unsustainable. The issue of whether the assessee's actions constituted concealment of income or furnishing of inaccurate particulars was not adjudicated on the merits as the penalty order was already set aside on procedural grounds. The appeal was allowed, and the penalty order was consequently overturned. en-us Mon, 03 Jul 2023 00:00:00 +0530 Tue, 04 Jul 2023 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439900 The Tribunal set aside the penalty order due to the Assessing Officer's failure to specify the charge of default in the penalty proceedings, making them unsustainable. The issue of whether the assessee's actions constituted concealment of income or furnishing of inaccurate particulars was not adjudicated on the merits as the penalty order was already set aside on procedural grounds. The appeal was allowed, and the penalty order was consequently overturned. Case-Laws Income Tax Mon, 03 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439900