https://www.taxtmi.com/caselaws?id=33609 The court set aside the Tribunal's order canceling the penalty under section 271(1)(c) of the Income-tax Act for furnishing inaccurate particulars of income. The court held that the Assessing Officer's recording in the assessment order fulfilled the requirement for initiating penalty proceedings, and the Tribunal erred in concluding otherwise. The matter was remitted for a decision on the merits, directing the parties to appear before the Tribunal for further directions. en-us Mon, 17 Sep 2007 00:00:00 +0530 Sat, 30 May 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33609 The court set aside the Tribunal's order canceling the penalty under section 271(1)(c) of the Income-tax Act for furnishing inaccurate particulars of income. The court held that the Assessing Officer's recording in the assessment order fulfilled the requirement for initiating penalty proceedings, and the Tribunal erred in concluding otherwise. The matter was remitted for a decision on the merits, directing the parties to appear before the Tribunal for further directions. Case-Laws Income Tax Mon, 17 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33609