https://www.taxtmi.com/caselaws?id=754277 A penalty notice under section 274 read with section 271(1)(c) was invalid where it did not strike off the inapplicable limb and failed to specify whether the charge was concealment of income or furnishing inaccurate particulars. The statutory notice had to clearly inform the assessee of the precise allegation, and penalty proceedings could not rest on an omnibus or vague notice. Such ambiguity was treated as a jurisdictional defect and, in penal matters, was resolved in favour of the assessee. The consequential penalty under section 271(1)(c) was quashed. en-us Tue, 18 Jun 2024 00:00:00 +0530 Thu, 20 Jun 2024 08:37:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754277 A penalty notice under section 274 read with section 271(1)(c) was invalid where it did not strike off the inapplicable limb and failed to specify whether the charge was concealment of income or furnishing inaccurate particulars. The statutory notice had to clearly inform the assessee of the precise allegation, and penalty proceedings could not rest on an omnibus or vague notice. Such ambiguity was treated as a jurisdictional defect and, in penal matters, was resolved in favour of the assessee. The consequential penalty under section 271(1)(c) was quashed. Case-Laws Income Tax Tue, 18 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754277