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2023 (4) TMI 373 - AT - Income TaxPenalty u/s 271(1)(c) - defective notice u/s 274 - Non specification of charges against the assessee for visiting with penalty - HELD THAT:- It is very debatable issue across the country, whether penalty could be imposed upon an assessee in the absence of any specific charge in the show-cause notice issued u/s 274 r.w.s. 271(1)(c) of the Income Tax Act. AO is required to specify the charge on which an assessee has to give explanation, namely whether penalty is to be imposed upon the assessee for concealment of income or for furnishing of inaccurate particulars. In the judgments cited before us, this question has been answered in favour of the assessee, i.e. in case, the charge is not specified in the show-cause notice, then penalty would not be imposable upon the assessee. Thus we are of the view that penalty imposed upon the assessee is not sustainable, it is deleted. Appeal of the assessee is allowed.
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