No penalty could be levied if notice didn’t clearly include reasons for initiation of penalty proceedings

INCOME TAX: Where from show-cause notice issued by Assessing Officer under section 274 it was not clear whether he had levied penalty for concealment of income or furnishing inaccurate particulars of income, penalty order passed under section 271(1)(c) in pursuance of said notice had rightly been set aside

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000193458/no-penalty-could-be-levied-if-notice-didn’t-clearly-include-reasons-for-initiation-of-penalty-proceedings.aspx