2020 (9) TMI 920

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..... ated the penalty proceedings for furnishing inaccurate particulars of income, but, in the penalty order, levied the penalty for concealment of particulars of income. See M/s. Sahara India Life Insurance Company Ltd. [ 2019 (8) TMI 409 - DELHI HIGH COURT ]. We are of the view that since notice issued before levy of the penalty is bad in Law, therefore, the entire penalty proceedings are vitiated and as such, penalty is liable to be cancelled. We set aside the Orders of the authorities below and cancel the penalty. Appeal of the Assessee allowed.
SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER For the Assessee : Shri Sataji Goel , C.A. For the Revenue : Ms. Shalini Verma , Sr. D. R. ORDER This appeal by A .....

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..... tion 271(1)(c) of the I.T. Act, 1961, which is confirmed by the Ld. CIT(A) by dismissing the appeal of assessee. 5. Learned Counsel for the Assessee referred to the assessment order submitted that all the additions were made by A.O. in the assessment order which is basis for levy of the penalty and the A.O. in the assessment order against each of the addition has mentioned that assessee has furnished inaccurate particulars of income. Accordingly, penalty proceedings under section 271(1)(c) of the I.T. Act have been initiated. He has submitted that the A.O, however, in the penalty order has levied the penalty on account of concealment of particulars of income. He has submitted that A.O. in the show cause notice dated 28.02.2014 has mentione .....

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..... ulars of income or furnishing inaccurate particulars of income. The A.O. in the assessment order initiated the penalty proceedings for furnishing inaccurate particulars of income, but, in the penalty order, levied the penalty for concealment of particulars of income. The Hon'ble Karnataka High Court in the case of CIT vs. M/s. SSAs Emerald Meadows 73 taxmann.com 241, dismissed the Departmental Appeal in which the Tribunal has cancelled the penalty. The view of the Hon'ble High Court have been confirmed by the Hon'ble Supreme Court reported in 73 taxmann.com 248. Further, the Hon'ble Delhi High court recently vide Order dated 02.08.2019 in the case of Pr. CIT vs. M/s. Sahara India Life Insurance Company Ltd., 2019(8) TMI 409 (Del.), consider .....

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