https://www.taxtmi.com/caselaws?id=797148 Penalty for concealment or furnishing inaccurate particulars cannot be sustained where income offered during survey is included in the return and the assessment accepts that return without variation. For assessment year 2015-16, the enhanced tax rate under Section 115BBE, applicable prospectively from assessment year 2018-19, cannot be used to compute penalty. Penalty proceedings are also vulnerable where the notice under Section 274 read with Section 271(1)(c) fails to specify whether concealment or furnishing inaccurate particulars is alleged, notwithstanding satisfaction recorded in the assessment order. On these grounds, no penalty liability survives. en-us Fri, 07 Aug 2026 00:00:00 +0530 Tue, 18 Aug 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797148 Penalty for concealment or furnishing inaccurate particulars cannot be sustained where income offered during survey is included in the return and the assessment accepts that return without variation. For assessment year 2015-16, the enhanced tax rate under Section 115BBE, applicable prospectively from assessment year 2018-19, cannot be used to compute penalty. Penalty proceedings are also vulnerable where the notice under Section 274 read with Section 271(1)(c) fails to specify whether concealment or furnishing inaccurate particulars is alleged, notwithstanding satisfaction recorded in the assessment order. On these grounds, no penalty liability survives. Case-Laws Income Tax Fri, 07 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797148