TMI Blog2022 (4) TMI 273X X X X Extracts X X X X X X X X Extracts X X X X ..... disallowing the same, the AO has recorded, Penalty proceedings u/s 271(1)(c) are being initiated separately for concealment /furnishing inaccurate particulars of its income. Since, in the present case, the satisfaction of concealment/furnishing of inaccurate particulars of income have been recorded in the body of the Assessment Order, it can be said that the specific limb invoked for levy of pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e present appeal has been filed by the Revenue against the order of ld. CIT(A), Dehradun dated 28.04.2017. 2. The first issue is with regard to not recording the satisfaction of concealment and/or filing of inaccurate particulars of income. It is observed from the assessment order that after discussing the claim made by the assessee and disallowing the same, the AO has recorded, Penalty procee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the following judgments: 1) Karnataka High Court: CIT vs. Manjunatha Cotton and Ginning Factory: 359 ITR 565 held that notice under section 274 should specifically state the grounds mentioned in section 271(1)(c) of the Act, i.e., whether it is for concealment of income or for furnishing of incorrect particulars of income. Sending printed form where all the grounds mentioned in section 27 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated in the in the case of CIT vs. SSA'S Emerald Meadows: 73 taxmann.com 241 (Kar) [Revenue s SLP dismissed in 242 Taxman 180] 4. Hence, respectfully following the order of the Hon ble Jurisdictional High Court, since the AO has not been specified u/s 274 as to whether penalty is proposed for alleged concealment of income OR furnishing of inaccurate particulars of such income , the penal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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