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| The Tax Publishers2020 TaxPub(DT) 1121 (Bang-Trib) INCOME TAX ACT, 1961
Section 271(1)(c)
As evident from notice issued under section 274 read with section 271(1)(c), AO did not specify as to whether penalty proceedings were sought to be initiated for concealment of particulars of income or for furnishing inaccurate particulars of income. Accordingly, penalty levied on the basis of such defective notice could not be sustained.
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Penalty under section 271(1)(c) - Concealment or furnishing of inaccurate particulars - Non-mention of particular charge of offence in penalty notice -
Assessee challenged penalty levied under section 271(1)(c) on the ground of non-mention of particular charge of offence in penalty notice. AO took plea of section 292B. Held: As evident from notice issued under section 274 read with section 271(1)(c), AO did not specify as to whether penalty proceedings were sought to be initiated for concealment of particulars of income or for furnishing inaccurate particulars of income. Accordingly, penalty levied on the basis of such defective notice could not be sustained. Even, section 292BB would not come to the rescue of revenue, as impugned notice was not in substance and effect in conformity with or according to the intent and purpose of the Act.
Followed:K. Prakash Shetty v. ACIT (ITA Nos. 265 to 267/Bang/2014, dated 5-6-2014), CIT v. SSA's Emerald Meadows (2015 (11) TMI 1620--KARNATAKA HIGH COURT)
REFERRED :
FAVOUR : in assessee's favour
A.Y. :
IN THE ITAT, BANGALORE BENCH
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