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2020 (8) TMI 271 - AT - Income TaxPenalty u/s 271(1)(c) - Non specification of charge - whether the assessee is accused of concealment of particulars of any taxable income or he had furnished inaccurate particulars of such income? - HELD THAT:- It emerges from the penalty notice dated 15.12.2016 that the AO did not specify as to whether the assessee is accused of concealment of particulars of any taxable income or he had furnished inaccurate particulars of such income. This tribunal’s co-ordinate bench’s decision in Nishith Kumar Jain Vs. ACIT [2016 (3) TMI 642 - ITAT KOLKATA] has deleted an identical penalty. We hold that levy of penalty in the present case cannot be sustained. We therefore cancel the orders imposing penalty on the Assessee and allow the appeal by the Assessee. On the issue of defect in show cause notice u/s 274 of the Act, we are not dealing with the other arguments made on merits of the orders imposing penalty on the assessee. Also See DR. MURARI MOHAN KOLEY [2018 (9) TMI 1 - CALCUTTA HIGH COURT] - Decided in favour of assessee.
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