https://www.taxtmi.com/caselaws?id=468656 An omnibus penalty notice under section 274 read with section 271(1)(c) that does not strike off the irrelevant limb or specify whether concealment or furnishing of inaccurate particulars is alleged is treated as invalid for non-application of mind, and the resulting penalty cannot be sustained. Delay in filing Form No. 68 for immunity under section 270AA is a procedural lapse where the assessee has accepted the assessment, paid the demand, and not appealed; the delayed form does not defeat immunity when the substantive conditions are otherwise met. The penalty under section 270A was therefore not sustainable, and the assessees obtained relief. en-us Thu, 06 Feb 2025 00:00:00 +0530 Fri, 15 May 2026 20:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468656 An omnibus penalty notice under section 274 read with section 271(1)(c) that does not strike off the irrelevant limb or specify whether concealment or furnishing of inaccurate particulars is alleged is treated as invalid for non-application of mind, and the resulting penalty cannot be sustained. Delay in filing Form No. 68 for immunity under section 270AA is a procedural lapse where the assessee has accepted the assessment, paid the demand, and not appealed; the delayed form does not defeat immunity when the substantive conditions are otherwise met. The penalty under section 270A was therefore not sustainable, and the assessees obtained relief. Case-Laws Income Tax Thu, 06 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468656