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2018 (3) TMI 945 - AT - Income TaxPenalty u/s 271(1)(c) - absence of any specific show cause notice having been issued - non specification - Held that:- AO has initiated the penalty for concealment of particulars of income or furnishing of inaccurate particulars, which is contrary to the provisions of law. Notice issued by the AO u/s. 271(1)(c) r.w.s. 274 is bad in law as it does not specify which limb of section 271(1)(c) of the Act, the penalty proceedings had been initiated i.e. whether for concealment of particulars of income or furnishing of inaccurate particulars. The penalty in dispute is not sustainable in the eyes of law. - Decided in favour of assessee.
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