https://www.taxtmi.com/caselaws?id=460523 The Tribunal remanded the case to the CIT(A) for reconsideration, directing a fresh evaluation of the delay in filing the appeal and the validity of penalty proceedings under Section 271(1)(c) of the Income Tax Act. The Tribunal found procedural lapses, particularly the failure to specify whether the assessee concealed income or furnished inaccurate particulars, rendering the penalty order unsustainable. The Tribunal emphasized the need for procedural compliance and clear articulation of charges, suggesting that both the application of Explanation 5A and the quantum of penalty should be reassessed by the CIT(A). en-us Thu, 01 Aug 2019 00:00:00 +0530 Thu, 30 Jan 2025 13:30:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460523 The Tribunal remanded the case to the CIT(A) for reconsideration, directing a fresh evaluation of the delay in filing the appeal and the validity of penalty proceedings under Section 271(1)(c) of the Income Tax Act. The Tribunal found procedural lapses, particularly the failure to specify whether the assessee concealed income or furnished inaccurate particulars, rendering the penalty order unsustainable. The Tribunal emphasized the need for procedural compliance and clear articulation of charges, suggesting that both the application of Explanation 5A and the quantum of penalty should be reassessed by the CIT(A). Case-Laws Income Tax Thu, 01 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460523