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2021 (6) TMI 98 - AT - Income TaxLevy of penalty u/s 271(1)(c) - defective notice - As argued notice issued does not specify the limb of Section 271(1)(c) for which the penalty has been levied - HELD THAT:- Hon’ble Delhi High Court in the case of PCIT vs. Sahara India Life Insurance Co. Ltd. [2019 (8) TMI 409 - DELHI HIGH COURT] has also deleted the penalty levied u/s 271(1)(c) when the notice did not mention whether the proceedings were initiated for concealment of particulars or for furnishing of inaccurate particulars of income. We for the reasons stated by the Co-ordinate Bench of Tribunal while deciding the issue for earlier years and for similar reasons and relying in the case of Sahara India Life Insurance [2019 (8) TMI 409 - DELHI HIGH COURT] are of the view that AO was not justified in levying the penalty u/s 271(1)(c) of the Act. We accordingly set aside the levy of penalty levied by the AO and thus the ground of the assessee is allowed.
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