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2022 (5) TMI 1148 - AT - Income TaxPenalty u/s 271(1)(c) - defective notice u/s 274 - non specification of clear charge - HELD THAT:- As notable that in the assessment order the Assessing Officer alleges allegation of concealment of particulars of income whereas penalty has been imposed on the allegation of furnishing of inaccurate particulars of income and in the notice the Assessing Officer has not struck down / struck off irrelevant allegation and has made both the allegations simultaneously. Therefore, the issue is covered in favour of the assessee by the judgement of Sahara India Life Insurance Company Ltd. [2019 (8) TMI 409 - DELHI HIGH COURT] - Respectfully following the same penalty imposed by the Assessing Officer and confirmed by the ld. CIT (Appeals) is cancelled and the Assessing Officer is directed to delete the penalty. - Decided in favour of assessee.
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