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2018 (1) TMI 1238 - AT - Income TaxPenalty levied u/s 271(1)(c) OR u/s 271AAA - notice is not issued in the proforma - Held that:- We have perused the notice u/s 271(1)(c) of the Act and find that the notice is not issued in the proforma, but is issued both for concealment as well as furnishing of inaccurate particulars of income. We find that the AO was satisfied about the existence of both the ingredients and therefore, there is no need to strike off any portion of the notice. Therefore, the assessee’s appeals for the A.Ys 2007-08 & 2008-09 are without any merits and are thus dismissed. The copy of the notice u/s 271AAA has not been produced before us, whereas the assessee has filed the copy of the notice u/s 271(1)(c) of the Act for the A.Y 2009-10 as well. As rightly pointed out by the learned Counsel for the assessee, the AO has to issue a notice for penalty u/s 271AAA separately and cannot suo moto treat convert the notice issued u/s 271(1)(c) to a penalty notice u/s 271AAA. Therefore, we admit the additional ground, which is a legal ground and allow the same. The penalty order for A.Y 2009- 10 is accordingly set aside and the other grounds of appeal on the merits of the penalty order are not adjudicated.
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