https://www.taxtmi.com/caselaws?id=789180 Penalty proceedings under section 271(1)(c) require a valid notice under section 274 that clearly specifies the exact charge by striking off the inapplicable limb. A standard form or omnibus notice that does not indicate whether the allegation is concealment of income or furnishing inaccurate particulars is vague, shows non-application of mind, and prejudices the assessee in a mandatory penal framework. Because the notice failed to disclose the precise grounds, the penalty proceedings were vitiated and the penalty could not be sustained. The penalty was quashed in favour of the assessee. en-us Wed, 25 Feb 2026 00:00:00 +0530 Sat, 04 Apr 2026 08:53:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789180 Penalty proceedings under section 271(1)(c) require a valid notice under section 274 that clearly specifies the exact charge by striking off the inapplicable limb. A standard form or omnibus notice that does not indicate whether the allegation is concealment of income or furnishing inaccurate particulars is vague, shows non-application of mind, and prejudices the assessee in a mandatory penal framework. Because the notice failed to disclose the precise grounds, the penalty proceedings were vitiated and the penalty could not be sustained. The penalty was quashed in favour of the assessee. Case-Laws Income Tax Wed, 25 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789180