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2021 (7) TMI 1187 - AT - Income TaxPenalty u/s 271(1)(c) - Defective notice u/s 274 - non specification of single charge - HELD THAT:- It is an admitted fact that before levy of the penalty A.O. has issued show cause notice in which A.O. has mentioned both the limbs of Section 271(1)(c) of the I.T. Act that assessee have concealed the particulars of your income or furnished inaccurate particulars of such income. Thus the A.O. has not mentioned as to for which limb of Section 271(1)(c) of the I.T. Act penalty shall have to be levied against the assessee. A.O. has issued invalid and defective notice under section 271(1)(c) of the I.T. Act read with Section 274 - As relying on ANANTA GOPAL KARAT case [2019 (4) TMI 1992 - ORISSA HIGH COURT] the entire penalty proceedings are vitiated and are liable to be quashed. - Decided in favour of assessee.
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