Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (10) TMI 932 - AT - Income TaxPenalty u/s 271(1)(c) - defective notice - AO has not specified under which limb penalty is being initiated - HELD THAT:- Failure on the part of the A.O to clearly put the assessee to notice as regards the default for which penalty u/s 271(1)(c) was sought to be imposed on it in the ‘SCN’, dated 10.11.2014, had left the assessee guessing of the default for which it was being proceeded against. As the two defaults viz. ‘concealment of income’ and ‘furnishing of inaccurate particulars of income’ as contemplated in Sec.271(1)(c) are separate and distinct defaults which operate in their exclusive and independent fields, we, are unable to subscribe to the view taken by the CIT(A) that the A.O had validly imposed penalty for concealment of income/filing inaccurate particulars of income in respect of the aforesaid addition/disallowance made in the hands of the assessee. We not being able to persuade ourselves to subscribe to the imposition of penalty by the A.O, therefore, set aside the order of the CIT(A) who had upheld the same. The penalty imposed by the A.O under Sec.271(1)(c) is quashed in terms of our aforesaid observations. - Decided in favour of assessee.
|