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2018 (10) TMI 363 - ITAT VISAKHAPATNAMPenalty u/s 271(1)(c) - defective notice - struck off the portion which is not applicable while initiating the penalty proceedings - Held that:- It is not clear whether penalty is initiated for concealment of income or furnished inaccurate of particulars of such income. Under the similar facts and circumstances of the case, the coordinate bench of the tribunal in the case of Konchada Sreeram Vs. ITO [2017 (11) TMI 1164 - ITAT VISAKHAPATNAM]. As per the notice, the assessing officer was not sure of which limb of the offence he sought the explanation from the assessee, whether it was for the concealment of income or for furnishing of inaccurate particulars. - Decided in favour of assessee.
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