TMI BlogRevision u/s 263 - dropping of penalty u/s 271(1)(c) - neither the assessment order nor the show cause...Revision u/s 263 - dropping of penalty u/s 271(1)(c) - neither the assessment order nor the show cause notice in this case did specify the charges leveled, whether it is for concealment of income or for furnishing inaccurate particulars of income - Since the penalty proceedings initiated is void, it would not serve any purpose to uphold the order of the CIT u/s 263 and the same is quashed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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