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2019 (11) TMI 1409 - AT - Income TaxPenalty u/s 271(1)(c) - Defective notice - HELD THAT:- AO has not mentioned under which limb of the section 271 (1)(c) the penalty is being initiated. In the notice issued u/s 274, the Assessing Officer has not specified that under which limb he is initiating the penalty proceedings i.e. for concealment of income or for furnishing of inaccurate particulars of income. Similarly even the penalty order do not specify under which limb the penalty is being levied penalty order. Keeping in view of the facts narrated above and the judgment of the jurisdictional high court in the case of CIT Vs. Sahara India Life Insurance ltd [2019 (8) TMI 409 - DELHI HIGH COURT]we hereby direct the penalty levied by the Revenue be obliterated. - Decided in favour of assessee.
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