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2022 (6) TMI 1246 - AT - Income TaxPenalty u/s.271(1)(c) - Defective notice u/s 274 - non specification of clear charge - HELD THAT:- Where the charge is not properly set out in the notice u/s 274, viz., both the limbs stand therein without striking off the inapplicable one, if any, the penalty order gets vitiated. Turning to the facts of the extant case, we find from the notice u/s 274 of the Act that the AO retained both the limbs, whereas penalty was imposed only with reference to one of them, namely furnishing of inaccurate particulars of income. We overturn the impugned order on this legal issue and direct to delete the penalty imposed by the AO. - Decided against revenue.
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