Penalty proceedings invalid if notice issued without mind application

CA Suraj R. Agrawal Brief of the Case:- The notice is issued proposing to levy penalty under Section 271(1) (b) of the Act whereas the order is passed by the Assessing Officer under Section 271(1) (c) of the Act which clearly indicates that there was no application of mind by the Assessing Officer while issuing the notice under Section 274 of the Act. Case Summary:- Facts of the case: The appellant filed the return of income for the assessment year 2001-02 disclosing income only under the head ‘income from business’ amounting to Rs.1,64,74,416/-. The appellant had claimed Rs.28,40,409/- a...