9911796707
TMI Blog2024 (10) TMI 742X X X X Extracts X X X X X X X X Extracts X X X X ..... concealment of income or furnishing of inaccurate particulars of income. When the same was not so specified in the penalty notice it has been held in the case laws cited before us that mention of the same in the assessment order or penalty order cannot cure fatal short-coming. When the charge has not been specified in the notice, it is an omnibus notice. In such circumstances, Hon ble jurisdictional High Court in the case of PCIT vs. Sahara India Life Insurance Co. Ltd. [ 2019 (8) TMI 409 - DELHI HIGH COURT] has held that the penalty order passed is liable to be quashed on account of this defect which is fatal. Full Bench of Hon ble Bombay High Court in the case of Mr. Mohd. Farhan A. Shaikh [ 2021 (3) TMI 608 - BOMBAY HIGH COURT (LB)] has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nalty of Rs. 55,95,68,564/- @ 100% u/s 271(1)(c) of the Act. 3. Aggrieved with the above order, assessee preferred appeal before the ld. CIT (A) and before ld. CIT (A), assessee has made elaborate submissions. Ld. CIT (A) partly allowed the appeal of the assessee. 4. Aggrieved with the above order, assessee is in appeal before us raising various grounds. 5. At the outset, ld. Counsel for the assessee began with an additional ground which read as under :- On the facts and circumstances of the case and in law, the ld. CIT (A) failed to appreciate that initiation of penalty proceedings was bad in law inasmuch as the limb under which the proceedings have been initiated was not specified in the notice issued under section 274 of the Act. 6. Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10.1 We note that assessee has duly raised issue against the assumption of jurisdiction for the levy of section 271(1)(c) that in the penalty notice, relevant limb was not specified whether the penalty proceedings were initiated for concealment of income or furnishing of inaccurate particulars of income. When the same was not so specified in the penalty notice it has been held in the case laws cited before us that mention of the same in the assessment order or penalty order cannot cure fatal short-coming. When the charge has not been specified in the notice, it is an omnibus notice. In such circumstances, Hon ble jurisdictional High Court in the case of PCIT vs. Sahara India Life Insurance Co. Ltd. 432 ITR 84 (Del.) has held that the penalt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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