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2017 (11) TMI 172 - AT - Income Tax
Penalty u/s 271(1)(c) - invalid notice - non specification of grounds - Held that:- Having regard to the fact that in the instant case the notice issued u/s 274 r.w.s. 271(1)(c) of the Act dated 29.03.2012 does not specify the grounds of initiation of penalty proceedings, the same is invalid and untenable in the eyes of law. Accordingly, the penalty imposed u/s 271(1)(c) of the Act is directed to be deleted on this count itself. - Decided in favour of assessee.