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2018 (4) TMI 1264 - AT - Income TaxLevy of penalty u/s 271(1)(c) - Non specification of charge - defective notice - Held that:- When the charge is either concealment of particulars of income or furnishing of inaccurate particulars thereof, the revenue must specify as to which one of the two is sought to be pressed into service and cannot be permitted to club both by interjecting an or between the two. We, therefore, respectfully following the order of the Hon'ble Andhra Pradesh High Court in the case of Principal CIT-1, Vishakapatnam vs. Smt. Baisetty Revathi (2017 (7) TMI 776 - ANDHRA PRADESH HIGH COURT), hold that initiation of proceedings under section 271(1)(c) of the Act is not valid and accordingly quash the penalty. - Decided in favour of assessee.
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