https://www.taxtmi.com/caselaws?id=768747 The SC/Tribunal examined the validity of a penalty notice under Section 271(1)(c) of the Income Tax Act. It found the notice defective for not specifying whether the penalty was for concealment of income or furnishing inaccurate particulars. The Tribunal ruled the defect was substantive, not procedural, and thus not curable under Section 292B. Consequently, the penalty order was quashed, emphasizing the need for clear, specific penalty notices. en-us Tue, 08 Apr 2025 00:00:00 +0530 Sat, 12 Apr 2025 14:37:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768747 The SC/Tribunal examined the validity of a penalty notice under Section 271(1)(c) of the Income Tax Act. It found the notice defective for not specifying whether the penalty was for concealment of income or furnishing inaccurate particulars. The Tribunal ruled the defect was substantive, not procedural, and thus not curable under Section 292B. Consequently, the penalty order was quashed, emphasizing the need for clear, specific penalty notices. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768747