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2019 (2) TMI 2011 - AT - Income TaxPenalty u/s 271(1)(c) - Defective notice u/s 274 - non specification of clear charge - HELD THAT:- Tribunal being the first appellate authority, the assessee in the present appeal has raised this issue, therefore, this Tribunal is expected to adjudicate the same. This Tribunal being the second appellate authority cannot ignore the fact that the Assessing Officer failed to struck down the relevant plea indicating whether he initiated penalty proceeding for concealing any part of income or furnishing inaccurate particulars of such income. In view of the above, by respectfully following the judgment of Kerala Jewellers [2019 (2) TMI 127 - MADRAS HIGH COURT] the orders of both the authorities below are set aside and the penalty levied by the Assessing Officer as confirmed by the CIT(Appeals) is deleted.- Decided in favour of assessee.
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