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2022 (3) TMI 1020 - AT - Income TaxPenalty u/s 271(1)(c) - Defective notice u/s 274 - disallowance of depreciation and disallowance of brought forward losses and unabsorbed depreciation - HELD THAT:- On perusal of the notice it is clear that Assessing Officer has not specified whether the penalty is being levied on account of concealment of particulars of income or furnishing of inaccurate particulars of income. See case of Mohd. Farhan A. Shaikh [2021 (3) TMI 608 - BOMBAY HIGH COURT] - thus we delete the penalty on account of invalid notice issued under section under section 274 read with section 271(1)(c) - Decided in favour of assessee.
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