Section 271(1)(c) obliterated as AO failed to specify specific Limb for levy of penalty

Malook Nagar Vs ACIT (ITAT Delhi)

Since the AO has not been specified u/s 274 as to whether penalty is proposed for alleged ‘concealment of income’ OR ‘furnishing of inaccurate particulars of such income’, the penalty levied is hereby obliterated.

FULL TEXT OF THE ORDER OF ITAT DELHI

The present appeals have been filed by the assessee against the orders of the ld. CIT(A)-XXVI, New Delhi dated 22.04.2019.

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