https://www.taxtmi.com/caselaws?id=463504 ITAT (Surat) set aside penalty under section 271(1)(c), holding the assessing officer failed to specify whether the penalty was imposed for concealment of income or for furnishing inaccurate particulars. The order contained contradictory findings-initially treating it as penalty for inaccurate particulars, later invoking Explanation 1 deeming concealment-without a clear, positive finding. For lack of a definite charge, the penalty orders were held unsustainable and the assessee's appeals were allowed. en-us Wed, 26 Jun 2019 00:00:00 +0530 Thu, 04 Sep 2025 19:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463504 ITAT (Surat) set aside penalty under section 271(1)(c), holding the assessing officer failed to specify whether the penalty was imposed for concealment of income or for furnishing inaccurate particulars. The order contained contradictory findings-initially treating it as penalty for inaccurate particulars, later invoking Explanation 1 deeming concealment-without a clear, positive finding. For lack of a definite charge, the penalty orders were held unsustainable and the assessee's appeals were allowed. Case-Laws Income Tax Wed, 26 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463504