ITAT Dehradun Quashes Section 271(1)(c) Penalty for Non-Specific Charge

Mohit Batola Vs ACIT (ITAT Dehradun) ITAT Dehradun Quashes 271(1)(c) Levy for Non-Specific Charge – Penalty Invalid Where AO Fails to Strike Off Irrelevant Limb- Vague 274 Notice Equals Non-Application of Mind A search was conducted u/s 132 on the assessee, engaged in land development and real estate business, along with the Surya Builders group. Assessment was completed u/s 153A r.w.s.144 determining income at ₹1.88 crore against returned income of ₹12.72 lakh, followed by penalty of ₹8.46 lakh u/s 271(1)(c) for furnishing inaccurate particulars of income. Assessee contended that...