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2022 (7) TMI 1301 - AT - Income TaxPenalty u/s 271(1)(c) - AO without recoding any satisfaction, initiated the penalty proceedings under section 271(1)(c) - HELD THAT:- The penalty provisions of section 271(1)(c) are attracted, where the Assessee has concealed the particulars of income or furnished inaccurate particulars of such income. It is also a well-accepted proposition that the aforesaid two limbs of section 271(1)(c) carry different meanings. Therefore, it is imperative for the AO to specify the relevant limb so as to make the Assessee aware as to what is the charge made against him so that he can respond accordingly. Having regard to the manner in which the AO has issued the notice dated 28.03.2013 u/s 274 r.w.s. 271(1)(c) without specifying the limb under which the penalty proceedings have been initiated and proceeded with, apparently goes to prove that notice in this case has been issued in a stereotyped manner without applying mind which is bad in law, hence can not be considered a valid notice sufficient to impose penalty u/s 271(1)(c) and therefore we are of the penalty is not leviable we have no hesitation to delete the penalty levied by the AO and affirmed by the Ld. Commissioner - Assessee appeal allowed.
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