https://www.taxtmi.com/caselaws?id=798106 Penalty for concealment or furnishing inaccurate particulars cannot be sustained where the statutory notice retains both charges without identifying the precise default, denying the taxpayer a definite charge to answer. A penalty order issued in the name of an entity that ceased to exist on amalgamation is also unsustainable, particularly where that status was disclosed and the underlying assessment in that name was quashed. Further, restriction of licence-fee expenditure does not establish concealment or inaccurate particulars where material facts were disclosed and no incorrect facts were asserted. These defects remove the jurisdictional and factual basis for penalty. en-us Mon, 31 Aug 2026 00:00:00 +0530 Wed, 02 Sep 2026 08:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798106 Penalty for concealment or furnishing inaccurate particulars cannot be sustained where the statutory notice retains both charges without identifying the precise default, denying the taxpayer a definite charge to answer. A penalty order issued in the name of an entity that ceased to exist on amalgamation is also unsustainable, particularly where that status was disclosed and the underlying assessment in that name was quashed. Further, restriction of licence-fee expenditure does not establish concealment or inaccurate particulars where material facts were disclosed and no incorrect facts were asserted. These defects remove the jurisdictional and factual basis for penalty. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798106