TMI Blog2018 (2) TMI 737X X X X Extracts X X X X X X X X Extracts X X X X ..... on 274 read with Section 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 - ITA No. 5740/Del/2017 - - - Dated:- 2-2-2018 - Shri H. S. Sidhu, Judicial Member Assessee by : Sh. Alok Gupta, CA Department by : Sh. Sampoorananand, Sr. DR ORDER Per H. S. Sidhu, JM This appeal by the Assessee is directed against the Order of the Ld. Commissioner of Income Tax (Appeals), Ghaziabd dated 30.6.2017 pertaining to assessment year 2013-14. 2. The grounds of appeal raised in the assessee s appeal read as un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of brevity. 4. At the time of hearing, Ld. Counsel of the Assessee has stated that the penalty proceedings ought to fail, the penalty was initiated for furnishing of inaccurate particulars of income/concealment of income. Also the notice for penalty u/s. 271 read with Section 274 of the I. T. Act, 1961 was ambiguous and vague in as much as it is stated both concealment of particulars of income or furnishing of inaccurate particulars. For the sake of reference, the copy of Notice dated 29.12.2015 for initiation of penalty proceedings and copy of penalty order dated 29.12.2015 was filed before the Bench. He further stated that entire penalty proceedings stand vitiated as the notice itself is not in accordance with law and in order to supp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l as in the penalty order dated 29.6.2016 he held that the assessee had without reasonable cause concealed the particulars of his income, and / or furnished inaccurate particulars of income assessed. Therefore, in view of above, the penalty in dispute is not sustainable in the eyes of law and needs to be deleted. My aforesaid view is fortified by the following decisions:- i) CIT Anr. Vs. M/s SSA s Emerald Meadows 2015 (11) TMI 1620 Karnataka High Court has held that Tribunal has correctly allowed the appeal filed by the assessee holding the notice issued by the Assessing Officer under section 274 read with Section 271(1)(c) to be bad in law as it did not specify which limb of Section 271(1) of the Act, the penalty proceedings ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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