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2019 (1) TMI 87 - AT - Income TaxLevy of penalty u/s 271(1)(c) - assessment competed U/s 143(3) r.w.s 153A - addition of interest income as difference between the interest income reflected in Form 26AS and what has been declared by the assessee in his return of income - defective notice - nonstriking off of the irrelevant clause in the notice - Held that:- in the absence of any specific charge against the assessee in the penalty notice, consequent penalty imposed by the AO is illegal and bad in law. See COMMISSIONER OF INCOME TAX & ANR. VERSUS M/S SSA'S EMERALD MEADOWS [2016 (8) TMI 1145 - SUPREME COURT]. In the facts of the present case, undisputedly, the notice issued under section 274 read with section 271(1)(c) doesn’t specify the exact charge against the assessee as to whether it relates to concealing the particulars of income or furnishing inaccurate particulars of income. Respectfully following the decisions referred supra, the factum of nonstriking off of the irrelevant clause in the notice issued under section 274 read with section 271(1)(c) is hereby held as reflective of non-application of mind by the AO, the penalty imposed U/s 271(1)(c) is deleted. - decided in favour of assessee.
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