Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (8) TMI 639 - ITAT MUMBAIPenalty u/s. 271(1)(c) - assessee concealed the particulars of income or furnished inaccurate particulars of income - Non mentioning of specific charge - Held that:- In this case, the Assessing Officer has not brought out any specific charge for which the penalty has been imposed on the assessee under section 271(1)(c) of the Act. He has not brought out whether the assessee has concealed the particulars of income or whether the assessee has furnished inaccurate particulars of income. Even the Assessing Officer has not initiated the proceedings for any particular charge. The Assessing Officer levied penalty without mentioning any specific charge. In CIT v. Atul Mohan Bindal [2009 (8) TMI 44 - SUPREME COURT] where Hon'ble Supreme Court was considering the same provision, observed that the Assessing Officer has to be satisfied that a person has concealed the particulars of his income or furnished inaccurate particulars of such income. Thus, the satisfaction of the Assessing Officer about the concealment of particulars of income or furnishing of inaccurate particulars of such income is essential before levying any penalty u/s.271(l)(c). - Decided in favour of assessee.
|