Penalty of 100% of tax sought to be evaded u/s 271AAA was Not “Typographical Error”

Fahmida International Vs ACIT (ITAT Cuttack) Conclusion: Penalty leviable u/s.271AAA was 10% of the concealed income whereas under section 271(1)(c), the penalty was leviable at 100% of the tax sought to be evaded, therefore, the claim of AO that show cause notice had been issued under both under section 271AAA and section 271(1)(c) was not correct and it was not a typographical error. Held: In the instant case, assessees filed  the appeal against the order of the CIT (A) for the assessment year 2009-10 against the confirmation of penalty levied under section 271(1)(c). Assessee contented tha...