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2017 (10) TMI 1156 - AT - Income TaxLevy of penalty u/s 271(1)(c) - defective notice - Held that:- Assessing Officer has not specified whether the notice was issued for concealment of particulars of income or for furnishing of inaccurate particulars of income Drawing up penalty proceedings for one offence and finding the assessee guilty of another offence or finding him guilty for either the one or the other cannot be sustained in law and the notice issued u/s 274 r.w.s. 271(1)(c) of the Act shall specify under which limb of Sec. 271(1)(c) of the Act the penalty proceedings were initiated, and in the absence of such clarity, the proceedings are bad in law. We, therefore, hold that the impugned penalty proceedings are bad in law and cannot be sustained. - Decided in favour of assessee.
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