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2018 (5) TMI 424 - AT - Income TaxPenalty u/s. 271(1)(c) - AO has just ticked on the option of concealment of income or furnishing inaccurate particulars of such income - non specification of charge - Held that:- After perusing the contents of the Notice dated 30.11.2012, we are of the view that the 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) read with Section 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. See CIT & Anr. Vs. M/s SSA’s Emerald Meadows – 2016 (8) TMI 1145 – Supreme Court - Decided in favour of assessee.
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