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2016 (2) TMI 1215 - ITAT DELHIPenalty levied u/s 271(1)(c) - non specification of charge - defective notice - Held that:- Notice issued by the Assessing Officer under Section 274 r.w.s. 271(l)(c) to be bad in law as it did not specify which limb of Section 271(l)(c) of the Act, the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing of inaccurate particulars of income. The Tribunal, while allowing the appeal of the assessee, has relied on the decision of the Division Bench of this Court rendered in the case of COMMISSIONER OF INCOME TAX -VS- MANJUNATHA COTTON AND GINNING FACTORY (2013 (7) TMI 620 - KARNATAKA HIGH COURT) - Also see SHRI HAFEEZ S CONTRACTOR VERSUS ASSTT. COMMISSIONER OF INCOME TAX –CENTRAL CIRCLE-44, MUMBAI [2015 (9) TMI 1169 - ITAT MUMBAI] - Decided in favour of assessee.
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