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2018 (5) TMI 1575 - AT - Income TaxPenalty levied u/s 271(1)(c) - unexplained cash credits u/s 68, 69 and 69C - validity of notice - absence of specific charge - Held that:- As decided in Sachin Arora vs. ITO [2018 (3) TMI 1026 - ITAT AGRA] the notice u/s 274 is a mandatory statutory notice without which, the initiation of penalty proceedings would be nugatory, nay, non est in the eye of the law. The argument of the Department that where initiation of penalty in the Assessment Order, the levy in the penalty order and the confirmation of such penalty in the first appellate order are on one and the same charge, the contents of the notice u/s 274 are of no effect, the assessee having been duly apprised of the specific charge against them, is not acceptable in law. The notices are nebulous and, therefore, they are not valid in law - Decided in favour of assessee.
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