https://www.taxtmi.com/caselaws?id=786662 Issue concerns validity of penalty proceedings under section 271(1)(c) where penalty notices did not specify or strike off the inapplicable limb (concealment of income versus furnishing inaccurate particulars). Applying binding precedent that a notice must indicate which limb is invoked, the Tribunal treated the notices as deficient and held the defect vitiated the proceedings; the penalty was quashed and the revenue's appeal dismissed with the assessee's cross-objection allowed. en-us Fri, 13 Feb 2026 00:00:00 +0530 Tue, 17 Feb 2026 07:29:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786662 Issue concerns validity of penalty proceedings under section 271(1)(c) where penalty notices did not specify or strike off the inapplicable limb (concealment of income versus furnishing inaccurate particulars). Applying binding precedent that a notice must indicate which limb is invoked, the Tribunal treated the notices as deficient and held the defect vitiated the proceedings; the penalty was quashed and the revenue's appeal dismissed with the assessee's cross-objection allowed. Case-Laws Income Tax Fri, 13 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786662