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2023 (5) TMI 1057 - AT - Income TaxPenalty u/s 271(1)(c) - Non specification of charge - defective notice u/s 274 - HELD THAT:- Since the AO has not been specified u/s 274 as to whether penalty is proposed for alleged ‘concealment of income’ OR ‘furnishing of inaccurate particulars of such income’, the penalty levied is hereby obliterated. Also quantum addition stands deleted. And hence, the penalty proceedings do not survive - Appeal of assessee allowed.
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