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2018 (9) TMI 418 - AT - Income TaxPenalty involving proceedings u/s. 271(1)(c) - defective notice - Held that:- CIT(A) has deleted the impugned penalty on account of the fact that Assessing Officer’s show cause notice initiating the penal proceedings in motion did not specify as to whether the assessee had concealed or furnished inaccurate particulars of income of its taxable income so far as the quantum issue of share capital / premium issue of ₹1,54,78,000 is concerned. We find the instant issue to be no more res integra co-ordinate bench’s decision in Jeetmal Choraria [2017 (12) TMI 883 - ITAT, KOLKATA] wherein held the show cause notice issued in the present case u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income - Decided in favour of assessee.
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