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2019 (1) TMI 742 - AT - Income TaxPenalty proceedings u/s 271(1)(c) r.w.s. 274 - non specification of charge - Held that:- AO has initiated the penalty for concealment of particulars of income or furnishing of inaccurate particulars, which is contrary to the provisions of law. Also of the view that assessment order issued by the AO is bad in law as it does not specify under which limb of section 271(1)(c) the penalty proceedings had been initiated i.e. whether for concealment of particulars of income or furnishing of inaccurate particulars. Therefore, the penalty in dispute is not sustainable in the eyes of law. See CIT & Anr. Vs. M/s SSA’s Emerald Meadows – [2015 (11) TMI 1620 – Karnataka High Court] - Decided in favour of assessee.
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