https://www.taxtmi.com/caselaws?id=754816 A penalty under Section 271(1)(c) cannot be sustained where proceedings are initiated on one limb of the charge, such as furnishing inaccurate particulars of income, but the final penalty is imposed on a different limb, such as concealment of income. The statutory requirement is a clear and continuing satisfaction on the specific default, and a change in the basis of penalty breaks the foundation of the proceeding. The penalty was therefore held unsustainable and cancelled. en-us Thu, 27 Jun 2024 00:00:00 +0530 Sat, 29 Jun 2024 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754816 A penalty under Section 271(1)(c) cannot be sustained where proceedings are initiated on one limb of the charge, such as furnishing inaccurate particulars of income, but the final penalty is imposed on a different limb, such as concealment of income. The statutory requirement is a clear and continuing satisfaction on the specific default, and a change in the basis of penalty breaks the foundation of the proceeding. The penalty was therefore held unsustainable and cancelled. Case-Laws Income Tax Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754816