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2022 (11) TMI 477 - ITAT PUNELevy of Penalty u/s 271(1)(c) - Defective notice u/s 274 - as argued AO has not struck the appropriate words i.e. Concealed the particulars of Income or furnished Inaccurate particulars - HELD THAT:- AO has not struck the appropriate in applicable words in the penalty notice. Also as mentioned in earlier para, in the assessment order the AO has not mentioned whether the penalty is initiated for concealment or filling inaccurate particulars. This issue goes to the root of initiation of penalty. Therefore, respectfully following the Hon’ble jurisdictional High Court, it is held that the penalty u/s.271(1)(c) is not maintainable. Hence, the Assessing Officer is directed to delete the penalty u/s.271(1)(c). Accordingly, appeal of the Assessee is allowed.
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