https://www.taxtmi.com/caselaws?id=754444 ITAT Chennai held that penalty u/s 271(1)(c) cannot be levied without proper satisfaction recorded by AO and specific charge identification. AO initiated penalty proceedings without specifying whether for concealment of income particulars or furnishing inaccurate particulars. Show cause notice u/s 274 r.w.s 271(1)(c) was vague, using printed form without striking inapplicable portions. Without specific charge identification, AO cannot apply mind to relevant facts or arrive at proper satisfaction. Vague notice vitiates entire proceedings, making penalty order void ab initio. Appeal decided in favor of assessee. en-us Wed, 06 Mar 2024 00:00:00 +0530 Sat, 22 Jun 2024 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754444 ITAT Chennai held that penalty u/s 271(1)(c) cannot be levied without proper satisfaction recorded by AO and specific charge identification. AO initiated penalty proceedings without specifying whether for concealment of income particulars or furnishing inaccurate particulars. Show cause notice u/s 274 r.w.s 271(1)(c) was vague, using printed form without striking inapplicable portions. Without specific charge identification, AO cannot apply mind to relevant facts or arrive at proper satisfaction. Vague notice vitiates entire proceedings, making penalty order void ab initio. Appeal decided in favor of assessee. Case-Laws Income Tax Wed, 06 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754444