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TMI Blog2019 (2) TMI 1635X X X X Extracts X X X X X X X X Extracts X X X X ..... , to be bad in Law as it did not specify in which limb of Section 271(1)(c) of the I.T. Act, 1961, the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income. The entire penalty proceedings are, therefore, vitiated and no penalty is leviable .See M/S SSA S EMERALD MEADOWS [ 2016 (8) TMI 1145 - SC ORDER] - Decided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r furnished inaccurate particulars of such income in terms of explanation 1, 2, 3, 4 and 5." 3.1. He has submitted that similarly in A.Y. 2011- 2012, A.O. has issued show cause notice Dated 26.03.2014 before levy of the penalty in which the A.O. has mentioned as under : "Have concealed the particulars of your income or furnished inaccurate particulars of such income in terms of explanation 1, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -010- 2011) Dated 26.03.2014 (A.Y. 2011-2012) before levy of the penalty against the assessee in which the A.O. has recorded as under : "Have concealed the particulars of your income or furnished inaccurate particulars of such income in terms of explanation 1, 2, 3, 4 and 5." 5.1. These facts, therefore, clearly show that notices issued by the A.O. for levy of penalty under section 271(1)(c) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rnataka High Court and Hon'ble Supreme Court, set aside the Order of the authorities below and cancelled the penalty. Respectfully following the decision of the Coordinate Bench of the Tribunal (supra) and Judgment of Hon'ble Karnataka High Court in the case CIT vs. M/s. SSAs Emerald Meadows (supra) which has been confirmed by the Hon'ble Supreme Court reported in 73 taxmann.com 248 (supra), we se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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