Penalty U/s 271(1)(c) Deleted Due to Defective Notice – No Specific Charge Mentioned

Dazzler Confectionery Company Vs ITO (ITAT Mumbai) Penalty u/s 271(1)(c) Deleted Due to Defective Notice – No Specific Charge Mentioned AO levied penalty of ₹44.79 lakh u/s 271(1)(c) on disallowances relating to pre-operative expenses & 35D deduction. Penalty notice u/s 274 was issued using “concealment OR furnishing inaccurate particulars” without specifying the exact charge. Assessee challenged penalty on ground of defective notice. Revenue argued that defect is curable & no prejudice caused. ITAT held: AO failed to specify exact limb of section 271(1)(c) in notice → non-a...