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2019 (5) TMI 100 - AT - Income TaxPenalty u/s 271(1)(c ) - notice defective for not mentioning the specific charge - HELD THAT:- Notice issued by the AO u/s 274 r.w.s. 271(l)(c) to be bad in law as it did not specify which limb of Section 271(l)(c), the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing of inaccurate particulars of income. Tribunal, while allowing the appeal of the assessee, has relied on the decision of the Division Bench of this Court rendered in the case of COMMISSIONER OF INCOME TAX -VS- MANJUNATHA COTTON AND GINNING FACTORY (2013 (7) TMI 620 - KARNATAKA HIGH COURT) - on the same issue there is two conflicting judgments of Hon’ble Supreme Court. In this scenario, we take the support of the established principle for a proposition that when there are two views on the issue, on in the favouring of the assessee should be adopted for that we rely on the judgment of the Hon’ble Supreme Court in the case of Vegetable Products Ltd. [1973 (1) TMI 1 - SUPREME COURT] . Decided in favour of assessee.
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