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2019 (9) TMI 1001 - ITAT BANGALOREPenalty u/s. 271(1)(c) - Defective notice - non specification of charge against the assessee - whether it is for concealment of particulars of income or furnishing of inaccurate particulars of income? - HELD THAT:- Show cause notice issued in the present case u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income. The show cause notice u/s 274 of the Act does not strike out the inappropriate words. We are of the view that imposition of penalty cannot be sustained. The plea of the assessee which is based on the decisions referred to in the earlier part of this order has to be accepted. See M/S MANJUNATHA COTTON AND GINNING FACTORY & OTHS., M/S. V.S. LAD & SONS, [2013 (7) TMI 620 - KARNATAKA HIGH COURT]. We therefore hold that imposition of penalty in the present cases cannot be sustained and the same is directed to be cancelled. In view of the above conclusion, we refrain ourselves from dealing with the other arguments on merits put forth by the Assessee. - Decided in favour of assessee.
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