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2016 (12) TMI 1902 - ITAT RANCHILevy of penalty u/s. 271(1)(c) - addition on account of purchase of NSC and saving bank interest - Defective notice u/s 274 - non specification of clear charge - HELD THAT:- A show cause notice u/s. 274 of the Act was issued. The Assessing officer has not stated specifically whether the show cause is for concealment of income by the assessee or furnishing of inaccurate particulars of income. Therefore, following case of Suvaprasanna Bhatracharya [2015 (12) TMI 43 - ITAT KOLKATA], thus hold that the order imposing penalty is invalid and consequently the imposition of penalty is deleted. Decided in favour of assessee.
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