TMI Blog2020 (3) TMI 864X X X X Extracts X X X X X X X X Extracts X X X X ..... f the view that the penalty is not leviable in the matter. In this case, the A.O. issued show cause notices for levy of penalty under section 271(1)(c) of the Act which is bad in law as it did not specify in 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 inaccurate particulars of income. The entire penalty proceedings are, therefore, vitiated and no penalty is leviable. See M/S SSA'S EMERALD MEADOWS [ 2016 (8) TMI 1145 - SC ORDER] - Decided in favour of assessee. - ITA.No.6575/Del./2015 - - - Dated:- 28-1-2020 - Shri Bhavnesh Saini, Judicial Member And Shri O.P. Kant, Accountant Member For the Assessee : Shri A.K. Sriva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te particulars of income or concealed the particulars of income. Learned Counsel for the Assessee, therefore, submitted that issue is covered by the Judgment of the Hon ble Delhi High Court in the case of Pr. CIT vs., M/s. Sahara India Life Insurance Company Ltd., vide Order Dated 02.08.2019, reported in 2019 (8) TMI 409 (Del.), in which in paras 21 and 22, the Hon ble Delhi High Court held as under : 21. The Respondent had challenged the upholding of the penalty imposed under Section 271(1) (c) of the Act, which was accepted by the IT AT. It followed the decision of the Karnataka High Court in CIT v. Manjunatha Cotton Ginning Factory 359 ITR 565 (Kar) and observed that the notice issued by the AO would be bad in law if it did not sp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re itself similar view is taken by Hon ble Karnataka High Court in the case of CIT vs. M/s. SSA s Emerald Meadows 73 taxmann.com 241 (Kar.). This decision is confirmed by the Hon ble Supreme Court reported in 242 Taxman 180 (SC). Further, the Hon ble Delhi High court recently in the case of Pr. CIT vs. M/s. Sahara India Life Insurance Company Ltd., (supra) following the decision of Hon ble Supreme Court in the case of M/s. SSA s Emerald Meadows (supra) confirmed cancellation of the penalty. We, therefore, following the aforecited decisions of the Hon ble Delhi High Court in the case of Pr. CIT vs. M/s. Sahara India Life Insurance Company Ltd., (supra), set aside the Orders of the authorities below and cancel the penalty. 6. In the result ..... X X X X Extracts X X X X X X X X Extracts X X X X
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