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2019 (3) TMI 1756 - AT - Income TaxPenalty u/s 271(1) (c) - Defective notice - addition of bogus purchases by estimating the same at 12.5% - HELD THAT:- As noticed from the notice issued by the Assessing Officer under section.274 read with section 271(1)(c)(1)(c) of the Act dated 12.3.2015 for initiating penalty proceedings, the Assessing Officer has not striked out the relevant clauses in this section. AO has initiated penalty proceedings for both limbs i.e. for furnishing of inaccurate particulars of income as well concealment of particulars of income as is evident from the assessment order. It means that the assessing officer is not sure about the charge on which penalty is to be levied. Hence, respectfully following the decision of Hon’ble Bombay High Court in the case of Shri Samson Perinchery [2017 (1) TMI 1292 - BOMBAY HIGH COURT] we delete the penalty - Decided in favour of assessee.
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