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2018 (4) TMI 1201 - AT - Income TaxLevy of penalty u/s.271(1)(c) - non specification of charge - Held that:- Levy of penalty has to be clear as to the limb under which it is being levied. See Manjunatha Cotton & Ginning Factory (2013 (7) TMI 620 - KARNATAKA HIGH COURT) Omission by the AO to explicitly specify in the penalty notice as to whether penalty proceedings are being initiated for furnishing of inaccurate particulars or for concealment of income makes the penalty order liable for cancellation. sEE CIT vs. SSA’s. Emarld Meadows [2016 (8) TMI 1145 - SUPREME COURT] - In the present case having regard to the manner in which the Assessing Officer has issued notice under section 274 r.w.s. 271(1)(c) of the Act dated 15.1.2014 without striking off the irrelevant words, the penalty proceedings show a non-application of mind by the Assessing Officer and is, thus, unsustainable.- Decided in favour of assessee
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