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2019 (4) TMI 766 - AT - Income TaxLevy of penalty u/s 271(1)(c) - non specification of charge - addition of unexplained investment in Firm and on the addition of agricultural income as income from other sources - HELD THAT:- Admittedly, as noticed from the assessment order, find that no such satisfaction as contemplated u/s.271(1)(c) have been recorded by the Assessing Officer while completing the assessment that in which limbs, the issue is following. The Assessing Officer has simply mentioned that “penalty proceedings u/s.271(1)(c) are initiated separately”, Case of VV PROJECTS AND INVESTMENT P. LTD. VERSUS DEPUTY CIT [2007 (12) TMI 97 - ANDHRA PRADESH HIGH COURT] followed - Decided against revenue
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