2019 (6) TMI 745

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..... issioner of Central Excise UP [ 2005 (10) TMI 96 - SUPREME COURT as well as DR. MURARI MOHAN KOLEY [ 2018 (9) TMI 1 - CALCUTTA HIGH COURT] - Decided in favour of assessee. - I.T.A. No. 692/Kol/2019 - - - Dated:- 14-6-2019 - Shri P.M. Jagtap, Vice President (KZ) And Shri S.S. Viswanethra Ravi, JM For the Assessee : Shri Amit Agarwal, Advocate For the Re .....

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..... AO in the hands of the assessee as short term capital gain. Accordingly, addition of ₹ 13,25,140/- was made by him to the total income of the assessee. Penalty proceedings u/s 271(1)(c) were also initiated by the AO and since the assessee could not offer any satisfactory explanation to the show cause notice issued during the course of proceedings, a penalty of ₹ 2,05,19 .....

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..... issued by him u/s 274 without containing the specific charge as to whether the assessee was guilty of having concealed particulars of income or having particulars of such income is defective. He has placed on record a copy of the notice to show that the Assessing Officer has not struck off irrelevant portion in the show cause notice thereby not specifying the exact charge on the assessee. In this .....

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