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2017 (2) TMI 1127 - HC - Income TaxPenalty u/s 271(1)(c) - Whether the notice issued u/s. 274 r.w.s. 271[1][c] of the Act in printed form without specifying grounds of initiation of penalty proceeding is valid, legal and tenable in law? - Held that:- Since in the impugned notice, there is no clear indication about the concealment of the particulars of the income, nor there is clear indication for furnishing of inaccurate particulars of the income on application of mind. In any case as there is no specific ground, hence there would be breach of principles of natural justice and ultimately the order imposing penalty even otherwise also cannot be sustained. Under the circumstances, the question formulated needs to be answered in the negative and in favour of the Assessee and against the Revenue.
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