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| The Tax Publishers2019 TaxPub(DT) 8149 (Del-Trib) INCOME TAX ACT, 1961
Section 271(1)(c)
In absence of recording of specific satisfaction or mentioning specific charge as to concealment of income or furnishing of inaccurate particulars of income, notice issued under section 274 and consequential penalty order imposing penalty under section 271(1)(c) was invalid and void ab initio.
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Penalty under section 271(1)(c) - Validity - Non specifying charge of penalty to assessee -
Assessee contended that notice issued for imposition of penalty under section 271(1)(c) was defective as it did not specify charge for imposition of penalty, i.e., concealment of income or furnishing of inaccurate particulars of income. Held: From perusal of notice issued under section 274 read with section 271 of the Income Tax Act, 1961, it could be seen that notice did not specify which limb of section 271(1)(c) was taken into account while passing penalty order. Following Sahara India Life Insurance Company Ltd. 2019 TaxPub(DT) 6933 (Del-HC)), since in instant case which limb of section 271(1)(c) was invoked by revenue authorities was not clear, thus, penalty could not be imposed.
Followed:Sahara India Life Insurance Company Ltd. 2019 TaxPub(DT) 6933 (Del-HC))
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
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