SC decision on Omission to explain reason for penalty proceedings

Issue-  Whether, omission if assessing officer to explicitly mention that penalty proceedings are being initiated for furnishing of inaccurate particulars or that for concealment of income makes the penalty order liable for cancellation even when it has been proved beyond reasonable doubt that the assessee had concealed income in the facts and circumstances of the case?

Held by ITAT- Tribunal has allowed the appeal filed by the assessee holding the notice issued by the Assessing Officer under Please become a Premium member. If you are already a Premium member, login here to access the full content.