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2018 (5) TMI 1804 - AT - Income TaxPenalty u/s 271(1)(c) - addition made by AO on protective basis - in the case of the assessee search u/s 132 of the Act was carried out and substantive additions were made in the hands of the assessee’s father Yogiraj Sharma - Held that:- The reason given by the Assessing Officer is an allegation which is not specific. AO has alleged that either the assessee has concealed the particulars of income or has furnished inaccurate particulars of income. It is clearly visible from the notice that at the time of initiation of penalty proceedings the Assessing Officer has not made specific satisfaction as to whether the assessee is guilty of concealing the particulars of income or furnishing inaccurate particulars of income. Even in the penalty order the Assessing Officer is not sure about the specific charge on the assessee for which penalty has been levied. Initiation of penalty proceedings by way of issuing notice u/s 274 r.w.s. 271(1)(c) of the Act do not meet the requirements as envisaged in the provisions of law and, therefore, all the six penalty orders under consideration cannot be sustained in the eyes of law. We accordingly quash all the six penalty orders and allow this common legal ground. - Decided in favour of assessee.
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