Case Law Details
Advocate Akhilesh Kumar Sah
Deutsche Bank AG, Mumbai vs. ADIT (International Taxation) (ITAT Mumbai)
Assessing Officer has to strike off and specify the charge/limb for which he is proposing to initiate penalty proceedings under section 271(1)(c): Deutsche Bank case
Recently, in Deutsche Bank Ag, Mumbai vs. ADIT (International Taxation) [ITA.No. 4723 & 4724/MUM/2015 (A.Y: 2000-01 & 2001-02), decided on 05.01.2018], the issue was that the Assessing Officer did not specify the charge for which the penalty proceedings were initiated under section 271(1)(c) of the Income Tax Act, 1961 (for short ‘the Act’). Counsel for the assessee submitted that the notice had been issued without specifying the charge for which the penalty is initiated as there was no striking off of the limb in the notice and therefore the initiation itself is improper and not valid. He placed reliance on the decision of the Coordinate Bench in the case of Meherjee Cassinath Holdings vs. ACIT in ITA. No. 2555/Mum/2012 dated 28.04.2017.
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