Held, allowing the appeal, that the Assessing Officer had issued the penalty order stating that, “you have concealed the particulars of income or furnished inaccurate particulars of income”. Since, the Assessing Officer had not specified under section 274 as to whether penalty was proposed for alleged ”concealment of income” or ”furnishing of inaccurate particulars of income”, the penalty levied is  not sustainable.(AY.2011-12)