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2017 (12) TMI 1468 - ITAT DELHIPenalty under section 271(1)(C) - defective notice - Held that:- As decided in M/s MANJUNATHA COTTON AND GINNING FACTORY & OTHS. case [2013 (7) TMI 620 - KARNATAKA HIGH COURT] it is apparent that if the penalty proceedings have initiated on one limb and if the same are confirmed on another limb it is not proper. In the present case penalty proceedings are initiated for furnishing of inaccurate particulars of income and the penalty would have been levied stating concealment of income as well as furnishing of inaccurate particulars of income, both the charges. Therefore, it is apparent that the penalty levied by the Ld. assessing officer is vague, ambiguous and not specific. In view of this we cancel the penalty levied by the Ld. assessing officer and confirmed by the Ld. CIT (A) of ₹ 222142/– under section 271 (1) (C) of the act. In the result solitary issue raised in the appeal of the assessee is allowed.
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