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2022 (2) TMI 813 - ITAT DELHILevy of penalty u/s. 271(1)(c) - defective notice u/s 274 - Non specification of charge - HELD THAT:- Since the AO, in the instant case, has not specified under which limb of the provisions of section 271(1)(c) i.e., whether for concealment of income or for furnishing of inaccurate particulars of income he has initiated the penalty proceedings, therefore, such penalty proceedings not being in accordance with the law, cannot be sustained. Accordingly, the penalty levied by the AO and sustained by the CIT(A) is directed to be cancelled.- Decided in favour of assssee.
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