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2016 (1) TMI 1227 - AT - Income TaxLevy of penalty under section 271(1)(c) - Held that:- Notices dated 13.12.2007 issued for initiation of penalty proceedings under section 247 r.w.s. 271 of the Act for levy of penalty under section 271(1)(c) of the Act for assessment years 1996-97 and 1997-98 are defective and issued without application of mind and are therefore invalid and consequently the orders levying penalty under section 271(1)(c) of the Act for both assessment years 1996-97 and 1997-98 are also invalid and liable to be cancelled. See Dilip N. Shroff vs. JCIT (2007 (5) TMI 198 - SUPREME Court) - Decided in favour of assessee
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