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2017 (4) TMI 54 - ITAT JAIPURPenalty proceedings u/s 271(1)(c) - false claim of exemption u/s 10(37) - defective notice - Held that:- The notice has been issue in the pre-typed performa there is no specific charge. Therefore in our considered view, notice issued u/s 271(1)(c) of the Act is not as per the law laid down by the Hon’ble Karnataka High Court in the case of Manjunatha (2013 (7) TMI 620 - KARNATAKA HIGH COURT). Another ground is that the assesee had disclosed all material before the authorities below. Merely that the claim of the assessee for entitlement exemption u/s 10(37) of the Act was rejected by the Assessing Officer would not be the basis for initiation of proceedings. - Decided in favour of assessee.
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