https://www.taxtmi.com/caselaws?id=447861 The Tribunal allowed the appeal, annulling the penalty of Rs. 34,34,000 imposed under section 271(1)(c) by the Income-tax Officer, Ward 6(3), for the assessment year 2011-12. The penalty was invalidated due to the issuance of a vague notice that failed to specify whether it was for concealment or furnishing inaccurate particulars of income. This deficiency violated legal requirements, as supported by precedents from the Karnataka HC and Delhi HC. The Tribunal emphasized the necessity of clearly stating penalty grounds in notices to taxpayers. en-us Fri, 23 Jun 2023 00:00:00 +0530 Sat, 06 Jan 2024 07:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447861 The Tribunal allowed the appeal, annulling the penalty of Rs. 34,34,000 imposed under section 271(1)(c) by the Income-tax Officer, Ward 6(3), for the assessment year 2011-12. The penalty was invalidated due to the issuance of a vague notice that failed to specify whether it was for concealment or furnishing inaccurate particulars of income. This deficiency violated legal requirements, as supported by precedents from the Karnataka HC and Delhi HC. The Tribunal emphasized the necessity of clearly stating penalty grounds in notices to taxpayers. Case-Laws Income Tax Fri, 23 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447861