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2017 (10) TMI 319 - ITAT DELHIPenalty u/s 271(1)(c) - concealment of particulars of income or furnishing of inaccurate particulars - validity of notice - Held that:- The notice issued by the Assessing Officer under section 274 read with Section 271(1)(c) to be bad in law as it did not specify which limb of Section 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 of income. See CIT & Anr. Vs. M/s SSA’s Emerald Meadows – 2015 (11) TMI 1620 – Karnataka High Court. Appeal filed by the Assessee stands allowed.
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