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2018 (3) TMI 1597 - AT - Income TaxPenalty u/s 271(1)(c) for disallowance - rejection for deduction under Sec. 57(iii) - defective notice - AO failed to strike off the irrelevant default in the ‘Show cause’ notice - Held that:- AO had merely issued the ‘Show cause’ notice u/s 274 in the standard proforma without pointing out the defaults for which the assessee was being proceeded against - in such situation the assessee is not informed and rather is left guessing of the defaults for which he is being proceeded against for - thus AO had clearly failed to discharge his statutory obligation - thus penalty u/s 271(1)(c) imposed by the AO is clear violation of the mandate of Sec. 274(1) of the Act and hence cannot be sustained - Decided in favor of assessee.
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