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2021 (5) TMI 480 - AT - Income TaxLevy of penalty u/s. 271(1)(C) - defective notice u/s 274 - non specifying clear-cut charge of Concealment of Income or furnishing inaccurate particulars of income - HELD THAT:- The Revenue could not dispute the fact that notice u/s. 271(1)(c) of the Act does not specify specific charge whether it is against the filing of accurate particulars of income or concealing particulars of income. As relying o M/S. SAHARA INDIA LIFE INSURANCE COMPANY, LTD. [2019 (8) TMI 409 - DELHI HIGH COURT] hereby quash the penalty order as the initiation of penalty is not in accordance with law - Decided in favour of assessee.
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