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2017 (2) TMI 514 - AT - Income TaxPenalty u/s. 271(1)(c) - income offered after the search but in the return filed u/s 153A - Defective notice - Held that:- We find from the perusal of the show cause notice issued u/s 274 read with section 271(1)(c) of the Act, the ld AO had merely made a tick mark without mentioning the specific charge of offence and without strucking off the relevant portion in the show cause notice as to whether the assessee had concealed his income or furnished inaccurate particulars of income. Thus the show cause notice u/s.274 of the Act is defective. The the penalty levied u/s 271(1)(c ) of the Act deserves to be cancelled on all counts. - Decided in favour of assessee
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