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2021 (1) TMI 836 - AT - Income TaxPenalty u/s 271(1)(c) - defective notice u/s 274 - As argued notice does not spell out the exact charge against the assessee i.e., whether the assessee is guilty in furnishing inaccurate particulars of income or concealing particulars of income - HELD THAT:- On the facts of the present case that the show cause notice u/s. 274 of the Act is defective as it does not spell out the grounds on which the penalty is sought to be imposed - imposing of penalty u/s 271(1)(c) of the Act is bad in law and invalid for the reason that the show cause notice u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealment of particulars of income or furnishing of inaccurate particulars of income. The show cause notice u/s 274 of the Act does not strike out the inappropriate words. In these circumstances, we are of the view that imposition of penalty cannot be sustained. - Decided in favour of assessee.
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