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2021 (7) TMI 575 - AT - Income TaxPenalty u/s 271AAA - Defective notice u/s 274 - non specification of charge - HELD THAT:- On perusal of the show cause notices issued by the Assessing Officer u/s 274 r.w.s. 271AAA dated 28/03/2012, which is placed on record of paper book, it is seen that the AO did not mention whether the notice is issued for concealment of income or for furnishing of inaccurate particulars of income. As per the ratio laid down in the case of SSA’s Emerald Meadows [2016 (8) TMI 1145 - SC ORDER], the notice issued by the Assessing Officer is not valid and consequently, the order passed u/s 271AAA is also not valid. Hence, we set aside the order of the CIT(A) and quash the order passed by the Assessing Officer u/s 271AAA. We direct the AO to delete the penalty levied u/s 271AAA - Decided in favour of assessee.
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