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2017 (3) TMI 1330 - ITAT PUNELevy of penalty u/s 271 (1) (c) - non mentioning charges for levy of penalty - Held that:- A perusal of the satisfaction recorded by the Assessing Officer at the time of assessment and while passing penalty order for both the assessment years, makes it evident that the Assessing Officer is not sure about the charge for levy of penalty. In the notice issued u/s 274 r.w.s 271 (1) (c ) of the Act again the Assessing Officer has erred in mentioning both the charges for levy of penalty. It would be relevant to mention here that in the notice both the charges i.e ‘concealment of income’ and ‘furnishing inaccurate particulars of income’ are linked by conjunction ‘or’. Thus, the notice does not clearly specify the charge for levy of penalty. On merits, the ld. AR has pointed that similar additions were made in assessment year 2009-10 and penalty proceedings u/s 271 (1)(c) were initiated. However, the penalty proceedings were subsequently dropped. This fact has not been controverted by the ld. DR. The assessee has also furnished copy of the order dated 31.03.2014 passed u/s 271 (1) (c) of the Act for assessment year 2009-10 dropping penalty proceedings. Under such circumstances, it would not be logical to uphold the penalty in assessment year under appeal. - Decided n favour of assessee.
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