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2019 (8) TMI 545 - AT - Income TaxPenalty u/s 271(1)(c) - defective notice - absence of any specific mention in the show-cause notice issued under section 274 of the Act as to whether the asseessee is guilty of having “furnished inaccurate particulars of income” or of having “concealed particulars of such income” - HELD THAT:- Notice issued under section 271(1)(c) without specifying which of the two contraventions, the assessee is guilty of was defective and the penalty imposed in pursuance of such defective notice was not sustainable. See THE COMMISSIONER OF INCOME TAX & OTHS. VERSUS M/S MANJUNATHA COTTON AND GINNING FACTORY & OTHS., M/S. V.S. LAD & SONS, [2013 (7) TMI 620 - KARNATAKA HIGH COURT] - we cancel the penalty imposed upon the assessee under section 271(1)(c) and allow the appeal of the assessee.
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