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2015 (1) TMI 1324 - AT - Income TaxPenalty u/s 271(1)(c) - Held that:- AO has not brought out any specific charge for which the penalty has been imposed on the assessee u/s 271(1) (c) of the Act. He has not brought out whether the assessee has concealed the particulars of income or whether the assessee has furnished inaccurate particulars of income. None of the decision of Hon’ble Supreme Court as relied by the AO, it has been held that the penalty u/s 271 (1) (c) is mandatory or automatic wherever the addition or disallowances are made by the AO. The assessing officer merely observed that the penalty is mandatory as he was fully aware of that no charge as specified u/s 271 (1) (c) was leviable against the assessee. On this basis also, the penalty was wrongly levied just for the purpose of levying the penalty. We, accordingly set aside the order of CIT(A) and delete the penalty imposed u/s 271(1)(c). - Decided in favour of assessee
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