2023 (10) TMI 624

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..... nalty levied is hereby obliterated. Appeals of the assessee are allowed.
Shri G.S Pannu, Hon'ble President And Shri Chandra Mohan Garg, Judicial Member For the Assessee : Shri Ved Jain, Adv., Ms. Supriya Mehta, CA And Shri Amit Kr. Sharma, CA For the Revenue : Shri Kanv Bali, Sr. DR ORDER PER BENCH:- The present appeals have been filed by assessee against the orders of ld. CIT(A)-29, New Delhi, dated 24.03.2023 for A.Ys. 2010-11 to 2015-16. 2. Since, the issues involved in all these appeals are similar, they were heard together and being adjudicated by a common order. 3. In ITA No. 1317/Del/2023, following grounds have been raised by the assessee: 1. On the facts and circumstances of the case, the order passed by the Learned CIT .....

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..... the Act does not specify the charge against the assessee as to whether it is for concealment of particulars of income or furnishing of inaccurate particulars of income. 8. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in confirming the penalty levied by the AO rejecting the contention of the assessee that penalty was levied without giving finding on merits of the case as concealment of income as well as furnishing of inaccurate particulars of income. 9. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in levying penalty despite the fact that there is neither concealment of income nor furnishing the inaccurate particulars of income by the .....

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..... s. 3) The Hon'ble jurisdictional Delhi High Court in the case o f PCIT vs. Sahara India Life Insurance Co. Ltd. in ITA No. 475 of 2019 , reiterated that notice under section 274 should specifically state the grounds on which penalty was sought to be imposed as the assessee should know the grounds which he has to meet specifically. 4) The aforesaid principle has been reiterated in the in the case of CIT vs. SSA'S Emerald Meadows: 73 taxmann.com 241 (Kar) [Revenue's SLP dismissed in 242 Taxman 180] 5. Hence, respectfully following the order of the Hon'ble Jurisdictional High Court, since the AO has not been specified u/s 274 as to whether penalty is proposed for alleged 'concealment of income' OR 'furnishing of inaccurate particulars .....

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