https://www.taxtmi.com/caselaws?id=760481 ITAT Mumbai held that penalty proceedings under section 271(1)(c) were vitiated due to defective notice. The AO failed to specify which limb of the twin charges - concealment of income particulars or furnishing inaccurate particulars - the penalty was levied under, not striking off the irrelevant charge. Following Bombay HC precedent in Mohd. Farhan A. Shaikh, the tribunal ruled that such defective notice invalidates penalty proceedings. The assessee's appeal was allowed. en-us Mon, 26 Aug 2024 00:00:00 +0530 Tue, 22 Oct 2024 08:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760481 ITAT Mumbai held that penalty proceedings under section 271(1)(c) were vitiated due to defective notice. The AO failed to specify which limb of the twin charges - concealment of income particulars or furnishing inaccurate particulars - the penalty was levied under, not striking off the irrelevant charge. Following Bombay HC precedent in Mohd. Farhan A. Shaikh, the tribunal ruled that such defective notice invalidates penalty proceedings. The assessee's appeal was allowed. Case-Laws Income Tax Mon, 26 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760481