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2018 (4) TMI 39 - AT - Income TaxPenalty levied u/s. 271(1)(c) - non specified in the notice whether the penalty is going to be levied for concealment of income or furnishing inaccurate particulars - Held that:- As the notice issued by the Assessing Officer u/s. 274 r.w.s. 271(1)(c) of the Act is on account of non-application of mind and therefore on this account itself the penalty imposed u/s.271(1)(c) is liable to be deleted. Thus, we direct the Assessing Officer to delete the penalty levied u/s.271(1)(c). See Orbit Enterprises v. Income Tax Officer [2017 (11) TMI 172 - ITAT MUMBAI]. - Decided in favour of assessee
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