TMI Blog2019 (4) TMI 266X X X X Extracts X X X X X X X X Extracts X X X X ..... ulars of income or furnishing of inaccurate particulars of income. - Decided in favour of assessee. - ITA No. 553/Asr./2017, ITA No. 580/Asr./2017 - - - Dated:- 21-2-2019 - Sh. N. S. Saini, Accountant Member And Sh. N. K. Choudhry, Judicial Member For the Assessee : Shri. Salil Kapoor, Adv. Shri. Sanat Kapoor, Adv. For the Revenue : Smt. Ratinder Kaur, DR ORDER PER N. S. SAINI, AM: These are the two appeals filed by the assessee for assessment year 2009-10 challenging the levy of penalty u/s 271(1)(c) of the Act by DCIT-VI, Pathankot of ₹ 9,77,480/-. 2. In view of the above stated facts, the appeal No. 553/Asr./2017 is dismissed on the ground of filing duplicate appeal. 3. Now we proceed to adjudic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... produced below: 2. This appeal has been filed raising the following substantial questions of law: (1) Whether, omission if assessing officer to explicitly mention that penalty proceedings are being initiated for furnishing oj inaccurate particulars or that for concealment of income makes the penalty order liable for cancellation even when it has been proved beyond reasonable doubt that the assessee had concealed income in the facts and circumstances of the case? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in. holding that the penalty notice under Section 274 r.w.s. 271(1)(c) is had in law and. invalid inspite the amendment of Section 271(1)( B) with retrospective effect an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lty proceedings by issuing the notice u/s 274/271(1)(c) of the Act without specifying whether the assessee has concealed ''particulars of income or assessee has furnished inaccurate particulars of income , so as to provide adequate opportunity to the assessee to explain the show cause notice. Rather notice in this case has been issued in a stereotyped manner without applying any mind which is bad in law, hence is not a valid notice sufficient to impose penalty u/s 271(1)(c) of the Act. 11. The penalty provisions of section 271(1)(c) of the Act are attracted where the assessee has concealed the particulars of income or furnished inaccurate particulars of such income. It is also a well-accepted proposition that the aforesaid two ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g regard to the manner in which the Assessing Officer has issued notice under section 274 r.w.s. 271(1)(c) of the Act dated 22.12.2011 without striking off the irrelevant words, the penalty proceedings show anon-application of mind by the Assessing Officer and is, thus, unsustainable. 12. The facts of the present appeal are identical to the facts of the case before the Hon ble Karnataka High Court in the case of SSA s. Emarld Meadows(supra). In the instant case the AO while levying penalty u/s 271(1)(c) has observed that the assessee has concealed the particulars of his income and has also furnished inaccurate particulars thereof. Thus, he is not specific as to whether the penalty is levied for concealment of income or for furnishing ina ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
