https://www.taxtmi.com/caselaws?id=465932 Notice under section 271(1)(c) read with section 274 failed to specify which limbconcealment of particulars of income or furnishing inaccurate particularswas the basis for proposed penalty, a mandatory requirement for imposing penalty. Because the assessing officer did not indicate or mark the relevant limb on the notice, the statutory foundation for levy of penalty was lacking and the notice was invalid. Consequently the penalty could not be sustained and the revenue appeals were dismissed by ITAT. en-us Fri, 31 Jan 2025 00:00:00 +0530 Thu, 15 Jan 2026 15:06:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465932 Notice under section 271(1)(c) read with section 274 failed to specify which limbconcealment of particulars of income or furnishing inaccurate particularswas the basis for proposed penalty, a mandatory requirement for imposing penalty. Because the assessing officer did not indicate or mark the relevant limb on the notice, the statutory foundation for levy of penalty was lacking and the notice was invalid. Consequently the penalty could not be sustained and the revenue appeals were dismissed by ITAT. Case-Laws Income Tax Fri, 31 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465932