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2019 (1) TMI 215 - AT - Income TaxLevy of penalty u/s.271(1)(c) - additional income offered in return of income in response to notice u/s.153A and unexplained capital - Held that:- While initiating penalty, the AO has not specified any of the charge u/s.271(1)(c). However, while passing the order levying penalty, the AO has mentioned both the limbs. The relevant extract of penalty order (para No.8) has already been reproduced hereinabove. The Hon’ble Karnataka High Court in the case of CIT & Another Vs. Manjunatha Cotton and Ginning Factory [2013 (7) TMI 620 - KARNATAKA HIGH COURT] held that the assessee should know the grounds which he has to meet specifically.Otherwise, the principles of natural justice is offended. On the basis of such proceedings no penalty could be imposed on the assessee. Also see CIT VERSUS SHRI SAMSON PERINCHERY [2017 (1) TMI 1292 - BOMBAY HIGH COURT] - Decided in favour of assessee.
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