Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (4) TMI 291 - AT - Income TaxLevy of penalty u/s 271(1)(c) - filing inaccurate particulars of income or not? - defective notice - non specification of charge - HELD THAT:- Notice issued by A.O. under section 274 r.w.s. 271(1)(c) of the I.T. Act to be bad in Law as it did not specify under which limb of Section 271(1)(c) of the I.T. Act, the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income. We are of the view that since notice is bad in Law as it did not specify under which limb of Section 271(1)(c) of the I.T. Act penalty proceedings have been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income, therefore, levy of penalty is wholly unjustified. See M/S MANJUNATHA COTTON AND GINNING FACTORY & OTHS., M/S. V.S. LAD & SONS, [2013 (7) TMI 620 - KARNATAKA HIGH COURT] - Decided in favour of assessee.
|