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2023 (9) TMI 380 - ITAT SURAT
Penalty u/s 271(1)(c) - addition on account of TDS credit deposited by employer-State bank of India on payment of leave travel concession - non specification of charge - HELD THAT:- As penalty levied u/s 271C on the employer bank has been deleted, therefore, the penalty imposed on the employee should also be deleted.
We note that since assessee is an employee and he has received Form No.16 from the employer (State Bank of India) and the details mentioned in Form No.16 has been disclosed by the assessee in the return of income, therefore, there should not be any concealment on the part of the assessee, and there should not be any inaccurate furnishing particulars of income, on the part of the assessee.
Penalty order did not specify the particular limb under which penalty u/s 271(1)(c) is levied. AO has not specified that penalty is either levied for furnishing inaccurate particulars of income or for concealing the income. The assessing officer himself is not clear that penalty is either levied for concealment of income or for furnishing inaccurate particulars then in such scenario, the assessing officer himself is not clear that for which limb he is levying a penalty and so such penalty need to be quashed - Decided in favour of assessee.