TMI Blog2018 (3) TMI 49X X X X Extracts X X X X X X X X Extracts X X X X ..... 620 - KARNATAKA HIGH COURT) has held that notice un/s 274 should specifically state the grounds mentioned in Section 271(l)(c), i.e., whether it is for concealment of income or for furnishing of inaccurate particulars of income. Sending printed form where all the ground mentioned in Section 271 are mentioned would not satisfy requirement of law.- Decided in favour of assessee. - ITA No. 5697/Del/2015 - - - Dated:- 27-2-2018 - SHRI N.K. SAINI, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER For The Appellant : Shri Sanat Kapoor, Advocate Ms Ananya Kapoor, Advocate For The Respondent : Shri R.S. Senapati, Sr. DR ORDER PER SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER This appeal has been preferred by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted and levied is without any specific charge as to concealment of income or furnishing inaccurate particulars. Penalty levied is illegal and bad in law. 7. That the information filed and the material available on record are not properly considered and as such the order imposing penalty u/s 271 (1) (c) is illegal and bad in law. 8. That the Commissioner of Income Tax (Appeals) has failed to appreciate that the mere disallowances of expenses claimed do not attract penalty u/s 271(1) (c) and the same has been wrongly upheld. The above grounds are purely legal. The relevant facts are already on record and no new fact is required to be investigated. The above noted grounds go to the root of the matter. It is therefore humbly r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... com 241 (Kar) where the SLP filed by the Revenue has been dismissed by the Hon ble Supreme Court. 6. In response, the learned DR appearing on behalf of the Revenue argued that penalty proceedings have been validly initiated in the notice u/s 274 r.w.s. 271 of the Act. 7. We have heard the rival contentions and perused the material on record. It is evident from the notice u/s 274 r.w.s. 271 of the Act dated 28.03.2013 for the impugned year that the Assessing Officer has not specifically specified as to under which limb of Section 271(l)(c) of the Act, the penalty proceedings had been initiated by him, i.e., whether for concealment of particulars of income or furnishing of inaccurate particulars of income. The Hon ble High Court of Karn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i)(c) is bad in law and inval id despite the amendment of Section 271 (1B) with retrospective effect and by virtue of the amendment, the assessing off icer has initiated the penal ty by properly recording the satisfaction for the same ? ( 3) Whether on the facts and in the circumstances of the case, the Tribunal was justif ied in deciding the appeals against the Revenue on the basis of notice issued under Section 274 without taking into consideration the assessment order when the assessing off icer has specif ied that the 'assessee has concealed particulars of income? 3. The Tribunal has allowed the appeal f iled by the assessee holding the notice issued by the Assessing Off icer under Section 274 read with Section 271(l)( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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