Penalty U/s. 271(c) not sustainable if notice not have specific charge

ITO Vs M/s Ambey Retailers Pvt. Ltd. (ITAT Kolkata)

ITAT Held that as notice issued under section 274 read with section 271(1)(c) of Income Tax Act, 1961 did not specify particular viz., whether assessee had concealed particulars of income or had furnished inaccurate particulars thereof, hence, levy of penalty could not be sustained.

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