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2018 (3) TMI 1708 - AT - Income TaxLevy of penalty u/s 271(1)(c) - non specification of default - Held that:- A reading of the otice clearly show that the word used for linking the two portions is "or" and not "and". An assessee in our opinion has every right to know which alleged default he has to explain. If it is both, it is necessary to mention so, in the notice. Without knowing what is default for which he is being charged, an assessee cannot give explanation. See SSA’s Emerald Meadows [2016 (8) TMI 1145 - SUPREME COURT]. Thus we hold that the notice issued under section 271 read with section 274 is invalid and, therefore penalty imposed by the Assessing Officer is cancelled. - Decided in favour of assessee
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