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2016 (4) TMI 513 - AT - Income TaxPenalty u/s 271(1)(c) - Held that:- In the present case the Assessing Officer has issued notice u/s. 274 r.w.s. 271(1)(c) of the Act without striking of the clauses which are not relevant. The notice is ambiguous. Further a perusal of penalty order shows that the Assessing Officer has not specified the information concealed by the assessee. Mere mentioning of the phrase that the assessee has ‘concealed income as well as furnished inaccurate particulars of income’ is not sufficient to comply with the provisions of section 271(1)(c). The Assessing Officer has to subjectively explain as to what information assessee has concealed and/or what inaccurate particulars are filed in the return of income. The Assessing Officer in present case seems was not clear at the time of issuing notice as to whether penalty is to be levied for concealment of income or furnishing of inaccurate particulars or both. Thus, in our considered view the notice issue u/s. 274 r.w.s 271(1)(c) in the instant case is defective and the proceedings arising therefrom are vitiated, unsustainable and are liable to be annulled. - Decided in favour of assessee
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