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TMI Blog2019 (6) TMI 301X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act to be bad in law as it did not specify in which limb of Section 271(1)(c) of the Act, 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. On this score itself, similar view is taken in the case of CIT vs. M/s. SSAs E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lty Dated 30/31.03.2015 in which the A.O. has mentioned as under : Have concealed the particulars of your income or furnished inaccurate particulars of such income under section 271(1)(c). 2.1. Learned Counsel for the Assessee, therefore, submitted that since it is not mentioned in the notice as to under which limb of Section 271(1)(c) of the I.T. Act, penalty pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITAT-2019-CHNY. 4. I have considered the rival submissions. In this case, the A.O. issued show cause notice Dated 30/31.03.2015 before levy of the penalty under section 271(1)(c) of the I.T. Act, 1961. From the perusal of the show cause notice Dated 30/31.03.2015, it is clear that the show cause notice issued by the A.O. for levy of the penalty under section 271(1)(c) of the Act to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. Thus, no penalty is leviable against the assessee. The decisions relied upon by the Ld. D.R. would not support the case of the Revenue, In view of the above, I set aside the Orders of the authorities below and cancel the penalty. 5. In the result, appeal of assessee allowed. Order pronounced in the open Court. - - TaxTMI - TMITax - Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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