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2016 (5) TMI 757 - AT - Income TaxPenalty u/s 271(1)(c) - Held that:- Satisfaction for initiation of penalty proceedings u/s.271(1)( c) of the Act is not discernible from the order of assessment. The show cause notice u/s.274 of the Act is also defective as it does not spell out the grounds on which the penalty is sought to be imposed. See Shri Satyananda Achariya Biswas Versus DCIT, Central Circle-Xiii, Kolkata [2015 (12) TMI 1524 - ITAT KOLKATA ] - Decided in favour of assessee
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