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2019 (12) TMI 262 - AT - Income TaxPenalty u/s 271(1)(c) - defective notice - AO has just ticked on the option of concealment of income or furnishing inaccurate particulars of such income - Held that:- notice issued by the AO u/s. 271(1)(c) read with Section 274 of the Act is bad in law as it does not specify which limb of section 271(1)© of the Act, 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 - Penalty deleted.
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