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2021 (8) TMI 565 - AT - Income TaxPenalty u/s 271(1)(c) - Defective notice u/s 274 - HELD THAT:- As in the cases of CIT vs. SSA’s Emerald Meadows and Pr. CIT vs. Sahara India Life Insurance Company Ltd. [2016 (8) TMI 1145 - SC ORDER], we are of the considered view that when the notice issued by the AO is bad in law being vague and ambiguous having not specified under which limb of section 271(1)(c) of the Act the same has been issued, the penalty proceedings initiated u/s 271(1)(c) are not sustainable. Hon’ble Apex Court in case of Reliance Petro Products Pvt. Ltd. [2010 (3) TMI 80 - SUPREME COURT] held that, “by no stretch of imagination can making an inaccurate claim tantamount to furnishing of inaccurate particulars when none of the information given in the return is found to be incorrect or inaccurate.” In the instant case, it was a mere case of difference of opinion taken by the AO. We are of the considered view that there is no perversity or infirmity in the impugned order passed by the ld. CIT (A), hence appeal filed by the Revenue is dismissed.
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