AO has to strike off & specify the limb to initiate penalty proceedings

Advocate Akhilesh Kumar Sah Deutsche Bank AG, Mumbai vs. ADIT (International Taxation) (ITAT Mumbai) Assessing Officer has to strike off and specify the charge/limb for which he is proposing to initiate penalty proceedings under section 271(1)(c): Deutsche Bank case Recently, in Deutsche Bank Ag, Mumbai vs. ADIT (International Taxation) [ITA.No. 4723 & 4724/MUM/2015 (A.Y: 2000-01 & 2001-02), decided on 05.01.2018], the issue was that the Assessing Officer did not specify the charge for which the penalty proceedings were initiated under section 271(1)(c) of the Income Tax Act, 1961 ...