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2018 (11) TMI 1630

irrelevant columns to specify whether the penalty was initiated for furnishing inaccurate particulars of income or for concealment of income. The Hon’ble Jurisdictional High Court in SMT. BAISETTY REVATHI [2017 (7) TMI 776 - ANDHRA PRADESH HIGH COURT] held that non specifying the issue with regard to furnishing the inaccurate particulars of income or concealment of income, renders the notice .....

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₹ 1,18,37,382/- and the AO initiated penalty u/s 271(1)(c) amounting to ₹ 23,17,876/-. 3. Against the penalty order u/s 271(1)(c), the assessee filed appeal before the CIT(A) and raised the ground with regard to the defect in the notice issued by the AO u/s 271(1)(c). The assessee submitted before the Ld.CIT(A) that the AO did not explicitly specify in the penalty notice as to whether .....

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he issue with regard to furnishing the inaccurate particulars of income or concealment of income, renders the notice invalid. The Ld.CIT(A) followed the order of this Tribunal in the case of Konchada Sreeram in I.T.A. No.388/Viz/2015 while cancelling the penalty. For ready reference, we extract relevant part of the order of the Ld.CIT(A) in page No.6 to 6.3. which reads as under : 6. I have consid .....

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rt in the case of Smt.Baisetty Revathi wherein the Hon ble Court has held as under: On principle, which penalty proceedings are sought to be initiated by the revenue under section 271(1)(c) of the Act of 1961, the specific ground which forms the foundation therefore has to be spelt out in clear terms. Otherwise, an assessee would not have proper opportunity to put forth his defense. When the proce .....

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one, arising for consideration warranting admission of this appeal. 6.2. On the similar facts, the Hon'ble ITAT, Visakhapatnam in the case of Konchada Sreeram(ITA No.388/Viz/2015) following the decision of the Hon'ble Andhra Pradesh High Court cited supra and its own decision in the cases of Narayana Reddy Enterprises (229/Viz/2015) and Smt.Makina Annapurna (ITA Nos.604 & 605/Vizag/201 .....

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