https://www.taxtmi.com/caselaws?id=769840 A penalty notice under section 274 read with section 271 of the Income-tax Act was defective because it did not specify the exact limb of section 271(1)(c). The pre-printed notice left the relevant portions intact and failed to show whether the proposed penalty was for concealment of income, furnishing inaccurate particulars, or both. The assessment order also did not record clear satisfaction on the specific charge. On that basis, the notice and the ensuing penalty proceedings were held invalid, and the penalty was deleted. en-us Tue, 29 Apr 2025 00:00:00 +0530 Fri, 02 May 2025 08:54:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769840 A penalty notice under section 274 read with section 271 of the Income-tax Act was defective because it did not specify the exact limb of section 271(1)(c). The pre-printed notice left the relevant portions intact and failed to show whether the proposed penalty was for concealment of income, furnishing inaccurate particulars, or both. The assessment order also did not record clear satisfaction on the specific charge. On that basis, the notice and the ensuing penalty proceedings were held invalid, and the penalty was deleted. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769840