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2024 (4) TMI 456 - AT - Income TaxPenalty levied u/s 271(1)(c) - non assigning specific charge - defective notice u/s 274 - Counsel submits that the AO did not specify under which limb of section 271(1)(c) penalty proceedings had been initiated i.e. whether for concealment of particulars of income or for furnishing of inaccurate particulars of income - HELD THAT:- The notice issued by the AO was bad in law if it did not specify under which limb of section 271(1)(c) of the Act the penalty proceedings had been initiated i.e. whether for concealment of particulars of income or for furnishing of inaccurate particulars of income. Ratio of the full bench decision in MR. MOHD. FARHAN A. SHAIKH [2021 (3) TMI 608 - BOMBAY HIGH COURT (LB)] squarely applies to the facts of the assessee's case as the notice u/s. 274 r.w.s. 271(1)(c) of the Act was issued without striking off the irrelevant portion of the limb and failed to intimate the assessee the relevant limb and charge for which the notices were issued. Thus, we hold that the penalty order passed u/s. 271(1)(c) of the Act by the AO is bad in law and accordingly the penalty order passed u/s. 271(1)(c) is quashed. Decided in favour of assessee.
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