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| The Tax Publishers2020 TaxPub(DT) 1049 (Ind-Trib) INCOME TAX ACT, 1961
Section 271AAB
As apparent matter written in the body of notice issued unders ection 274 read with section 271AAB did not refer to clause-a, b and c of section 271AAB as to what percentage penalty was sought to be levied on assessee for undisclosed income not surrendered during search. Certainly such notice had a fatal error and technically was not a correct notice in the eyes of law because it intended to penalize assessee without spelling about specific charge against the assessee and, therefore, penalty levied on the basis of such defective notice could not be sustained.
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Penalty unders ection 271AAB - Leviability - No mention of specific clause of section 271AAB in penalty notice -
Assessee challenged penalty levied by AO under section 271AAB on the ground of AO not having mentioned in penalty notice about various conditions provided under section 271AAB relating to levy of penalty @ 10% or 20% or 30% (as the case may be).Held: As apparent matter written in the body of notice issued under section 274 read with section 271AAB did not refer to clause-a, b and c of section 271AAB as to what percentage penalty was sought to be levied on assessee for undisclosed income not surrendered during search. Certainly such notice had a fatal error and technically was not a correct notice in the eyes of law because it intended to penalize assessee without spelling about specific charge against the assessee and, therefore, penalty levied on the basis of such defective notice could not be sustained.
Followed:Dilip N. Shraf (2007) 161 Taxmann 218 (SC) : 2007 TaxPub(DT) 1247 (SC). Distinguished:Pr. CIT v. Sandeep Chandak (2018) 405 ITR 648 (All) : 2017 TaxPub(DT) 5170 (All-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2014-15
IN THE ITAT, INDORE BENCH
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