Section 271(1)(c) penalty not sustainable if notice not specifies limb for levy of penalty

DCIT Vs Scooters India Ltd. (ITAT Lucknow) Facts- Appeal is preferred by the revenue against the deletion of penalty of INR 1,00,00,000 levied under section 271(1)(c) by CIT(A). Department majorly relied on the judgement of Honorable Madras High Court in Sundaram Finance Ltd. wherein the issue of striking of the limb was decided in favour of the Revenue. On the other hand, assessee submitted that notice under section 274 read with section 271(1)(c) is not specific about the charge or limb under which penalty is being levied under section 271(1)(c), then any penalty levied on the basis of such ...