https://www.taxtmi.com/caselaws?id=466273 Levy of penalty under section 271(1)(c) was challenged on the ground that the assessment order and notices reflected confusion between the distinct limbs of concealment of income and furnishing inaccurate particulars. The tribunal applied prior precedent distinguishing those two connotations and found that satisfaction for initiating penalty proceedings was recorded inconsistently and the penalty was imposed under a limb for which no proper satisfaction or initiation occurred; consequence: the penalty was held unsustainable and decided in favour of the assessee. en-us Fri, 28 Feb 2025 00:00:00 +0530 Sat, 31 Jan 2026 19:28:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466273 Levy of penalty under section 271(1)(c) was challenged on the ground that the assessment order and notices reflected confusion between the distinct limbs of concealment of income and furnishing inaccurate particulars. The tribunal applied prior precedent distinguishing those two connotations and found that satisfaction for initiating penalty proceedings was recorded inconsistently and the penalty was imposed under a limb for which no proper satisfaction or initiation occurred; consequence: the penalty was held unsustainable and decided in favour of the assessee. Case-Laws Income Tax Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466273