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2020 (2) TMI 1178 - AT - Income TaxLevy of penalty u/s 271(1)(c) - Defective notice - AO has not struck the relevant portion of the from to indicate as to whether the penalty is for concealment of income or for furnishing inaccurate particulars of income - no clear cut satisfaction has been recorded by AO as to whether the assessee has concealed the particulars of income or furnished inaccurate particulars of income - HELD THAT:- We find similar issue arose before the Hon’ble Bombay High Court in the case of Goa Coastal Resorts & Recreation [2020 (1) TMI 93 - BOMBAY HIGH COURT] wherein the Hon’ble High Court held that penalty is not leviable. AO was not justified in levying penalty u/s 271(1)(c) of the Act and therefore direct its deletion. Appeal of the assessee is allowed.
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