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2018 (3) TMI 71 - AT - Income TaxPenalty u/s 271(1)(c) - defective notice - non forming a charge against assessee - non recording of satisfaction - Held that:- In the present case, it is noticed that the AO in the assessment order dated 29.12.2008, simply stated that the penalty proceedings u/s 271(1)(c) of the Act have been initiated separately. He did not mention as to whether the penalty proceedings were initiated for furnishing of inaccurate particulars of income or concealment of income, so, there was no satisfaction of the AO. Moreover, the estimated additions which were made by the AO were deleted by the ld. CIT(A) and the only addition sustained was on account of scrap sales which was disclosed by the assessee itself. From show cause notice it is not clear as to whether the penalty proceedings u/s 271(1)(c) of the Act were initiated by the AO on account of concealment of income or furnishing of inaccurate particulars of income. Therefore, charge framed was not clear. - Decided in favour of assessee.
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