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<h1>AO must specify which limb of Section 271(1)(c) applies in penalty notices for concealment or inaccurate particulars</h1> <h3>PRINCIPAL COMMISSIONER OF INCOME TAX 1 Versus M/s CELLCAST INTERACTIVE INDIA PRIVATE LIMITED</h3> PRINCIPAL COMMISSIONER OF INCOME TAX 1 Versus M/s CELLCAST INTERACTIVE INDIA PRIVATE LIMITED - TMI Issues involved:The appeal against the order of the Income Tax Appellate Tribunal remanding the matter to re-examine Section 271(1)(c) of the Income Tax Act, 1961.Details of the Judgment:1. The appeal was filed against the ITAT order remanding the matter to the Assessing Officer to re-examine Section 271(1)(c) of the Income Tax Act, 1961.2. The ITAT emphasized the importance of clearly indicating the specific limb of Section 271(1)(c) being invoked in the notice to the appellant, as per previous court judgments.3. The Tribunal's decision was supported by various court judgments, including those in the cases of Minu Bakshi, Unitech Reliable Projects Pvt. Ltd., Gopal Kumar Goyal, Ansal Properties and Infrastructure, Bhudeva Estate Pvt. Ltd., Jamnalal Bajaj Foundation, and others.4. The Tribunal's decision was in line with the rationale that the AO must specify the limb of Section 271(1)(c) being triggered in penalty proceedings, as highlighted in the Unitech Reliable Projects Pvt. Ltd. case.5. The imposition of a penalty requires clarity on the part of the AO to indicate the specific limb of Section 271(1)(c) being invoked, as the consequences and burden on the assessee may vary depending on the nature of the infraction.6. The Court found no justification to entertain the appeal, which consequently failed and was dismissed. This judgment underscores the importance of clearly specifying the limb of Section 271(1)(c) being invoked in penalty proceedings to ensure fairness and transparency in the assessment of penalties under the Income Tax Act, 1961.