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2018 (11) TMI 1548 - AT - Income TaxLevying penalty u/s 271(1)(c) - defective notice - Held that:- We have perused the copy of the notice issued u/s 274 r.w.s 271 of the Act; dated 24/11/2016 and find that it reveals that the AO has not deleted the inappropriate words and parts in the relevant paragraph of the notice, whereby it is not clear as to which default has been committed by the assessee; i.e whether it is for furnishing of inaccurate particulars of income or concealing particulars of income that penalty u/s 271(1)(c) of the Act is sought to be levied. The Hon’ble Karnataka High Court in the case of M/s Manjunatha Cotton & Ginning Factory in [2013 (7) TMI 620 - KARNATAKA HIGH COURT] has held that a notice issued u/s 274 r.ws 271 of the Act without specifying the nature of default; i.e. whether the notice is issued for concealment of particulars of income or furnishing of inaccurate particulars of income; is invalid and the consequential penalty proceedings/order are also not valid. - Decided in favour of assessee.
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