https://www.taxtmi.com/caselaws?id=448634 The ITAT invalidated the penalty notice issued under section 271(1)(c)/274 of the Income Tax Act, 1961, due to the failure to specify whether the penalty was for concealment or furnishing inaccurate particulars. Consequently, the penalty order was deemed unsustainable. The Tribunal also found the penalty order unsustainable on merits, as the AO's additions were previously deleted or remanded. The Assessee's appeal was allowed, and the penalty order was set aside. en-us Fri, 19 Jan 2024 00:00:00 +0530 Tue, 27 Aug 2024 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448634 The ITAT invalidated the penalty notice issued under section 271(1)(c)/274 of the Income Tax Act, 1961, due to the failure to specify whether the penalty was for concealment or furnishing inaccurate particulars. Consequently, the penalty order was deemed unsustainable. The Tribunal also found the penalty order unsustainable on merits, as the AO's additions were previously deleted or remanded. The Assessee's appeal was allowed, and the penalty order was set aside. Case-Laws Income Tax Fri, 19 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448634