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2018 (8) TMI 667 - AT - Income TaxLevy of penalty u/s 271(1)(c) - validity of notice issued u/s 274 - Additions were made u/s 68 on account of sundry deposits - Held that:- In the facts of the present case, undisputedly, the notice issued under section 274 read with section 271(1)(c) doesn’t specify the exact charge against the assessee as to whether it relates to concealing the particulars of income or furnishing inaccurate particulars of income. The factum of non- striking off of the irrelevant clause in the notice issued under section 274 read with section 271(1)(c) is hereby held as reflective of non- application of mind by the AO, the penalty imposed U/s 271(1)(c) is deleted. - Decided in favor of assessee.
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