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2023 (2) TMI 570 - AT - Income TaxLevying penalty u/s 271(1)(c) - Defective notice u/s 274 - HELD THAT:- The statutory notices did not provide the ground on which the penalty proceeding was initiated – whether the penalty was sought to be levied for furnishing inaccurate particulars of income or for concealment of income. In the case Mohd. Farhan A Shaikh Vs. DCIT [2021 (3) TMI 608 - BOMBAY HIGH COURT] the full Bench of the Hon’ble Bombay High Court has held that a mere defect in the notice - not striking off the irrelevant matter, would vitiate the penalty proceedings. Thus the penalty proceedings stand vitiated on account of defect in the penalty notices, issued under Section 271(1)(c) read with Section 274 of the Act. - Decided in favour of assessee.
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