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2018 (4) TMI 441 - AT - Income TaxPenalty levied u/s 271(1)(c) - defective notice - non specification of charge - Held that:- The Hon’ble Karnataka High Court in the case of M/s Manjunatha Cotton & Ginning Factory in (2013 (7) TMI 620 - KARNATAKA HIGH COURT) has held that a notice issued u/s 274 r.ws 271 of the Act without specifying the nature of default; i.e; whether the notice is issued for concealment of particulars of income or furnishing of inaccurate particulars of income; is invalid and the consequential penalty proceedings/order are also not valid. - Decided in favour of assessee
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