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| The Tax Publishers2020 TaxPub(DT) 2914 (Rkt-Trib) INCOME TAX ACT, 1961
Section 271(1)(c)
As AO had not mentioned specific charge in the penalty order under section 271(1)(c), i.e., whether penalty was imposed for concealing of particulars of income or furnishing inaccurate particulars, penalty levied by AO was not sustainable.
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Penalty under section 271(1)(c) - Concealment or furnishing of inaccurate particulars - No specific charge mentioned in penalty order -
Assessee challenged penalty levied under section 271(1)(c) on the ground that penalty had been imposed by AO without mentioning specific charge in penalty Order, i.e., whether, it was levied on account of concealment of income or furnishing inaccurate particulars of income.Held: It was incumbent upon AO to come to a positive finding as to whether there was concealment of income by assessee or whether any inaccurate particulars of such income had been furnished. As apparent, AO had not mentioned specific charge in the penalty order and, therefore, levy of penalty could not be upheld.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 1999-2000 to 2005-06
INCOME TAX ACT, 1961
Section 271)(1)(c)
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