Notice u/s. 274 untenable as penalty u/s. 271(1)(c) imposed without stating specific charge

Aahvan Agencies Limited Vs DCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that notice issued u/s. 274 without specifying ground for imposition of penalty u/s. 271(1)(c) i.e. whether penalty is imposed for concealment of income or furnishing of inaccurate particulars of income is not justifiable. Accordingly, penalty u/s. 271(1)(c) set aside.

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