Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 1976 - ITAT MUMBAIPenalty levied u/s 271(1)(c) - assessee filed revised return beyond the due date for filing revised return and only due to the enquiries in the assessment proceedings - defective notice u/s 274 - argument of non specification of clear charge - CIT-A deleted the penalty levy - HELD THAT:- A perusal of the notice issued under section 274 r.w.s. 271 of the Act which is at page no. 17 of the paper book reveals that the AO has not deleted the inappropriate words and parts of the notice, whereby it is not clear as to the default committed by the assessee, i.e. whether it is concealment of particulars of income or furnishing of inaccurate particulars of income that the penalty under section 271(1)(c) of the Act is sought to be levied. In this regard, we find that in its order in the case of M/s Manjunatah Cotton & Ginning Factory [2013 (7) TMI 620 - KARNATAKA HIGH COURT] relied on by the assessee /respondent, had held that such a notice, as had also been issued in the case in hand, is invalid and the consequential penalty proceedings are also not valid. Thus we hold that the notice issued under section 274 r.w.s. 271 for initiating penalty proceedings under section 271(1)(c) of the Act in the case in hand is invalid and consequently, the penalty proceedings are also invalid - Decided in favour of assessee.
|