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2023 (6) TMI 1035 - AT - Income TaxPenalty u/s 271(1)(c) - Defective notice - non specification as to whether penalty is being initiated for "concealment of income" or for "furnishing inaccurate particulars of income"? - HELD THAT:- A notice issued for imposing penalty u/s 271(1)(c) has to specify the charge and it cannot be omnibus notice. Hence, we agree with the assessee to conclude, penalty imposed u/s 271(1)(c) of the ACT will not be sustainable if the penalty notice does not specify the specific charge. In the present case, this ground has been raised for the first time before us. We remit the issue to AO. AO shall examine the records and follow the judicial principle as enunciated herein above which has also the mandate of Hon’ble jurisdictional High Court. Needless to add, assessee should be provided an opportunity of being heard. Appeal of the assessee is allowed for statistical purposes.
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