https://www.taxtmi.com/caselaws?id=795189 Penalty for concealment of income or furnishing inaccurate particulars requires a notice that clearly identifies the specific statutory charge. Use of "or" between the two limbs in a notice under Section 274, without specifying the applicable limb, fails to provide adequate notice and demonstrates absence of definite satisfaction regarding the alleged default. Applying strict construction of penal provisions and the jurisdictional Full Bench ruling on defective penalty notices, the unspecific notice invalidated the penalty proceedings. The penalty under Section 271(1)(c) was deleted. en-us Fri, 13 Mar 2026 00:00:00 +0530 Fri, 18 Sep 2026 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795189 Penalty for concealment of income or furnishing inaccurate particulars requires a notice that clearly identifies the specific statutory charge. Use of "or" between the two limbs in a notice under Section 274, without specifying the applicable limb, fails to provide adequate notice and demonstrates absence of definite satisfaction regarding the alleged default. Applying strict construction of penal provisions and the jurisdictional Full Bench ruling on defective penalty notices, the unspecific notice invalidated the penalty proceedings. The penalty under Section 271(1)(c) was deleted. Case-Laws Income Tax Fri, 13 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795189