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2020 (9) TMI 956 - AT - Income TaxPenalty u/s 271AAB - Defective notice - whether penalty notice apparent to have nowhere specified as to under which limb the he sought to invoke sec. 271AAB penal action? - undisclosed income unearthed during the course of search u/s 132 - HELD THAT:- Respectfully following the judgment of jurisdictional High Court in the case of PCIT V/s Kulwant Singh Bhatia [2018 (5) TMI 960 - MADHYA PRADESH HIGH COURT] , DCIT V/s R. Elangovan [2018 (4) TMI 1553 - ITAT CHENNAI] and SHRI RAVI MATHUR, VERSUS THE DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-4, [2018 (6) TMI 1128 - ITAT JAIPUR] and in the given facts and circumstances of the case wherein the matter written in the body of the notice issued u/s 274 of the Act does not refer to the charges of provision of Section 271AAB of the Act makes the alleged notice defective and invalid and thus deserves to be quashed. Since the penalty proceedings itself has been quashed the impugned penalty stands deleted. Thus assessee succeeds on legal ground challenging the validity of notice issued u/s 274 r.w.s. 271AAB of the Act. - Decided in favour of assessee.
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