https://www.taxtmi.com/caselaws?id=782280 ITAT Delhi-AT allowed the assessee's appeal and deleted the penalty imposed u/s 271(1)(c). The Tribunal held that the penalty notice issued u/s 274 was invalid as it failed to specify the exact charge, i.e., whether the assessee had concealed income or furnished inaccurate particulars. The AO had issued a standard printed notice without striking off the inapplicable portions, evidencing non-application of mind. Relying on binding precedents holding such omnibus notices to be bad in law, the Tribunal concluded that the penalty was unsustainable and must be cancelled. en-us Wed, 30 Jul 2025 00:00:00 +0530 Thu, 27 Nov 2025 08:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782280 ITAT Delhi-AT allowed the assessee's appeal and deleted the penalty imposed u/s 271(1)(c). The Tribunal held that the penalty notice issued u/s 274 was invalid as it failed to specify the exact charge, i.e., whether the assessee had concealed income or furnished inaccurate particulars. The AO had issued a standard printed notice without striking off the inapplicable portions, evidencing non-application of mind. Relying on binding precedents holding such omnibus notices to be bad in law, the Tribunal concluded that the penalty was unsustainable and must be cancelled. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782280