| |
The Tax PublishersTax Appeal Nos. 70, 69 of 2018 & 6 of 2019
2019 TaxPub(DT) 6063 (Bom-HC) : (2021) 433 ITR 0249INCOME TAX ACT, 1961
Section 271(1)(c)
Where notice issued for levy of penalty under section 271(1)(c) did not indicate that which particular limb of section 271(1)(c), i.e., concealment of particulars of income or furnishing of inaccurate particulars, was invoked for initiating the penalty proceedings, such notice would liable to be quashed and consequently, the penalty levied under section 271(1)(c) would not be sustainable.
|
Penalty under section 271(1)(c) - Leviability - Non-specification of charge -
AO levied penalty under section 271(1)(c) on the ground that assessees did not file returns within the due date. Assessee claimed to have filed returns after a search was conducted in its premises under section 132. Revenue's case was that but for such search, the income then offered to tax by the assessee would not have been so offered. Held: Since notice issued for levy of penalty under section 271(1)(c) did not indicate that which particular limb of section 271(1)(c), i.e. concealment of particulars of income or furnishing of inaccurate particulars, was invoked for initiating the penalty proceedings, such notice would liable to be quashed and consequently, the penalty levied under section 271(1)(c) would not be sustainable.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
 SUBSCRIBE FOR FULL CONTENT
|