https://www.taxtmi.com/caselaws?id=778022 ITAT held the penalty under s.271(1)(c) unsustainable because the s.274 notice was defective and omnibus: the AO failed to specify or strike the particular limb (concealment vs. furnishing inaccurate particulars) and issued a stereotype notice lacking required grounds. On that basis the penalty was quashed and decided in favour of the assessee, following controlling HC authority that statutory notice must inform the assessee of the precise grounds of penalty proceedings. en-us Fri, 29 Aug 2025 00:00:00 +0530 Tue, 09 Sep 2025 08:38:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778022 ITAT held the penalty under s.271(1)(c) unsustainable because the s.274 notice was defective and omnibus: the AO failed to specify or strike the particular limb (concealment vs. furnishing inaccurate particulars) and issued a stereotype notice lacking required grounds. On that basis the penalty was quashed and decided in favour of the assessee, following controlling HC authority that statutory notice must inform the assessee of the precise grounds of penalty proceedings. Case-Laws Income Tax Fri, 29 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778022