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2019 (12) TMI 605 - AT - Income TaxPenalty u/s 271(1)(c) - Non specify the particular charge of concealment or furnishing inaccurate particulars of such income - HELD THAT:- From the perusal of the notice issued u/s 274 r.w.s. 271 of the Income Tax Act, 1961, it can be seen that the notice did not specify which limb of section 271(1)(c) has been taken into account while passing penalty order. In fact, the Assessing Officer proceeded on the basis of concealment of income to the extent of ₹ 63,33,260/- which was confirmed by the appellate authorities i.e. by the CIT(A) as well as by the Tribunal in quantum appeal. Overall addition of ₹ 1,58,92,460/- has not been taken into account as a concealment by the Revenue authorities. The concealment cannot be in part when the addition was made in totality without any specific limb mentioned in Section 271(1)(c) which is now deleted in part by the appellate authorities. Therefore, this issue is debatable issue. Further, when the notice is not mentioning the concealment or the furnishing of inaccurate particulars, the ratio laid down by the Hon’ble High Court in case of M/s. Sahara India Life Insurance Company Ltd. [2019 (8) TMI 409 - DELHI HIGH COURT] will be applicable in the present case - thus in the present case which limb of Section 271(1)(c) has been invoked by the revenue authorities is not clear penalty cannot be imposed - Decided in favour of assessee.
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