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2022 (7) TMI 323 - AT - Income TaxPenalty u/s 271AAB - defective notice u/s 274 - As per assessee penalty notice so issued is defective as it does not disclose specific charge and secondly there is no concealed income as search took place prior to due date of filing of income-tax return - HELD THAT:- A bare reading of notice demonstrates that notice relate to ingredients of penalty u/s. 271(1)(c) of the Act, it does not contain the ingredients of section 271AAB of the Act. Under these facts the notice is improper and is not in accordance with requirement of law. The assessing officer is expected to make his direction clear as to which clause of section 271AAB of the Act, he wishes to invoke. There is clear absence of such direction. Ld. counsel for the assessee has relied upon various judicial pronouncements in support of his contention that where the notice is being defective, therefore, no penalty can be levied or sustained. We observe that the issue is squarely covered in assessee's own case for the assessment-year 2015-16 [2020 (8) TMI 905 - ITAT INDORE] - Hence the same decision will prevail for assessment-year 2016-17. Since the penalty imposed in assessment-year 2015-16 was deleted, the penalty for assessment-year 2016-17 is also not sustainable. - Decided in favour of assessee.
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