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2023 (8) TMI 680 - DELHI HIGH COURTPenalty u/s 271(1)(c) - Concealment of income or not? - validity of notice - non specification of clear charge - ITAT deleted penalty levy - HELD THAT:- Tribunal is correct, both with regard to the fact there had been no concealment, as also concerning the view taken by it that the penalty proceedings did not indicate the limb under which the penalty was sought to be levied on the respondent/assessee. In the instant matter, the Tribunal had taken into account the earlier judgments of this Court, as well as the judgments of the Karnataka High Court. In Pr Commissioner of Income Tax-3 v Ms Minu Bakshi [2022 (7) TMI 1307 - DELHI HIGH COURT] the issue concerning the penalty notice not indicating the precise limb of Section 271(1)(c) under which the assessee was proceeded came up for consideration wherein held that the notice issued by the AO u/s 274 r.w.s.271(1)( c) to be bad in law as it did not specify which limb of Section 271(1)(c) of the Act, the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing of inaccurate particulars of income. Decided in favour of assessee.
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