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2020 (6) TMI 398 - AT - Income TaxLevy of penalty u/s 271(1)(c) - Defective notice - HELD THAT:- Assessment order did not record any satisfaction as to for which limb of Section 271 (1)(c) of the I.T. Act the penalty proceedings have been initiated. The A.O. merely mentioned at the bottom of the assessment order after computing the income that “penalty proceedings under section 271(1)(c) of the I.T. Act have been initiated separately.” Thus there is a violation of the Law in the matter. We, therefore, do not find any justification to levy the penalty under section 271(1)(c) of the I.T. Act against the assessee. In view of the above discussion, we set aside the Orders of the authorities below and cancel the penalty. Appeal of the Assessee is allowed accordingly.
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