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TMI Blog2023 (1) TMI 1266X X X X Extracts X X X X X X X X Extracts X X X X ..... Advocate ORDER PER SHAMIM YAHYA, A.M.: This appeal by the Revenue is directed against the Order of the Ld. CIT(A)-8, New Delhi, dated 14.03.2019 and pertains to A.Y. 2015-16. 2. The grounds of appeal read as under:- "1. Whether on the facts and circumstances of the case and in law the ld.CIT(A) erred in deleting the penalty imposed u/s 271(1)(c) of the Act on account of furnishing of inaccur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ounts: firstly he accepted the assesse's plea that relevant limb in the penalty notice has not been ticked off, hence, on jurisdictional aspect, the penalty is not sustainable. In this regard, the order of the ld.CIT(A) reads as under:- "4.1 The Ld. AR of appellant argued that while initiating the penalty proceeding u/s 271(l)(c) of the Act, the AO did not strike of inappropriate portion in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee not rebutting initial presumption in serious nature and assessee had to pay penalty from 100% to 300% of tax liability. As the said provisions have to be held to be strictly construed, notice issued u/s 271 should satisfy the grounds which assessee has to meet specifically. Otherwise, principle of natural justice is offended if show cause notice is vague. Further in light of the ratio laid down ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... culars of income or concealment of income' is fatal. It reflects non application of mind by AO & renders the levy of penalty invalid. Hence penalty cannot be imposed u/s 271(l)(c) of the Act." 3.1 Holding the penalty so levied as devoid of jurisdiction and invalid, the ld.CIT(A) further considered the merits of the case and decided the issue in favour of the assessee. Against this order, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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