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2019 (10) TMI 441 - ITAT BANGALOREPenalty u/s 271(1)(c) or sec.271AAB - HELD THAT:- It is not clear as to whether the penalty proceedings were initiated for concealment of income or for furnishing of inaccurate particulars of income or for having undisclosed income within the meaning of sec.271AAB of the Act. In the instant case, the AO is asking the assessee to furnish explanations on “concealment of income and furnishing of inaccurate particulars of income”. The AO has mentioned section 271AAB in the last sentence of notice, but the charge specified is not “undisclosed income” relevant to sec.271AAB of the Act. The decision rendered by Hon'ble Delhi High Court in the case of Smt. Ritu Singhal [2018 (3) TMI 593 - DELHI HIGH COURT] is on different issue and in any case, it is related to the penalty levied u/s 271AAA of the Act. We are of the view that the penalty notice issued u/s 271AAB of the Act to the assessee for AY 2013-14 and 2014-15 cannot be sustained and accordingly the penalty orders passed for the above said years are liable to be quashed. We order accordingly.
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