Tribunal held that the AO has initiated the penalty without specifying specific charge i.e. whether it is for concealment of particulars of income or furnishing of inaccurate particulars, which is contrary to the provisions of law. The notice issued by the AO under S. 271(1)(c) read with S. 274 of the Act is bad in law as it does not specify which limb of S. 271(1)(c) of the Act, the penalty proceedings had been initiated i.e. whether for concealment of particulars of income or furnishing of inaccurate particulars. Therefore, the penalty in dispute is not sustainable in the eyes of law, hence the Tribunal deleted the penalty.