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2018 (5) TMI 1577 - AT - Income TaxPenalty u/s 271(1)(c) - non specification of charge - Held that:- As perused the assessment orders for both the years wherein AO has also not levied any specific charge on the additions made but has simply stated that he is satisfied that the penalty proceedings under section 271(1)(c) should be initiated against the assessee company. Therefore we find that there is no specific charge levied by the assessing officer in the assessment orders as well as in the penalty notices but has levied the penalty on the assessee holding that assessee has furnished inaccurate particulars of his income. - Decided in favour of assessee.
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