Penalty Without Specifying Limb Under Section 271(1)(c) Quashed: ITAT Delhi

ACIT Vs Tata Teleservices Ltd (ITAT Delhi)

ITAT Delhi held that penalty under section 271(1)(c) of the Income Tax Act not leviable as notice failed to specify under which limb penalty proceedings has been initiated. Thus, penalty levied u/s. 271(1)(c) deleted.

Facts- The only issue to be decided in the cross objection of the assessee is as to whether the concealment penalty could be levied u/s 271(1)(c) of the Act when AO in the penalty notice had not struck off the inappropriate portion as to whether the assessee had concealed the particulars of income or f

Please become a Premium member. If you are already a Premium member, login here to access the full content.