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2018 (5) TMI 934 - AT - Income TaxPenalty u/s 271(1)(C) - non specification of charge - non-striking off of the relevant portions of standard show-cause notice - Held that:- Show-cause notice dated 11/07/2014 reveals that Ld. AO has not specified the exact charge / limb viz. concealment of income or furnishing of inaccurate particulars of income for which the penalty was being initiated. The revenue could not controvert the said fact by showing any other penalty notice u/s 274 read with Section 271(1)(c). Finally, a perusal of the penalty order reveals that the penalty has been levied by observing that the assessee has filed inaccurate particulars of income. A perusal of the above facts shows that the Ld. AO has applied both the limbs simultaneously i.e. concealment of income or furnishing of inaccurate particulars for which the penalty was being initiated against the assessee. The Hon’ble Supreme Court in the judgment titled as Dilip N.Shroff Vs. JCIT (2007 (5) TMI 198 - SUPREME Court) has observed that the concealment of income and furnishing of inaccurate particulars of income are different and carry different connotations. The Hon’ble Court further held that non-striking off of the relevant portions of standard show-cause notice reflects non-application of mind by AO and hence vitiates the penalty. - Decided in favour of assessee
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