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2017 (12) TMI 1466 - AT - Income TaxLevy of penalty u/s.271(1)(c) - no clear satisfaction recorded by the AO at the time of initiation of penalty proceedings - Held that:- AO is found to have used “or” at one place, “and” at other place and “concealed the particulars of your income” at one place and “furnished inaccurate particulars of such income” at other place etc.. Nowhere, the correct limb of clause (c) to section 271(1) of the Act is clearly referred to. In view of the documents (assessment order/penalty order/notices u/s.274) in our considered view, without going into the merits of the penalty as well as the nature of additional income offered by the assessee in the return of income files u/s.153A. The ambiguity in the mind of the AO is obvious at the time of initiation as well as levy of penalty proceedings. - Decided in favour of assessee.
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