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2024 (1) TMI 310 - ITAT KOLKATAPenalty u/s 271(1)(c) - defective notice - one of the limbs of penalty was not marked meaning thereby that the penalty notice has been issued in a standard format - HELD THAT:- We find that the notice was issued in a standard format, i.e. by mentioning both the limbs of penalty. In other words, it has been mentioned that the assessee has furnished inaccurate particulars of income, which is not correct position of law. In our opinion, AO has to issue the show-cause notice by mentioning the correct limb on the penalty was propose d to be levied, which is lacking in this case and thus the assessee was deprived from replying to the show-cause notice thereby violating the principle of natural justice. Accordingly, we hold that the order passed by the ld. AO is not sustainable in law and is quashed. Appeal of the assessee is allowed.
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