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2019 (7) TMI 298 - AT - Income TaxLevy of penalty u/s 271(1)(c) - defective notice - HELD THAT:- Levy of penalty u/s 271(1)(c) to be bad in law as it did not specify in which limb of Section 271(1)(c) the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income. The entire penalty proceedings are, therefore, vitiated and no penalty is leviable. On this score itself similar view is taken by in the case of CIT vs. M/s. SSAs Emerald [2015 (11) TMI 1620 - KARNATAKA HIGH COURT]. This decision is confirmed by the Hon’ble Supreme Court [2016 (8) TMI 1145 - SC ORDER] . In this view of the matter, the orders of the authorities below are set aside and penalty is cancelled. - Decided in favour of assessee.
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