https://www.taxtmi.com/caselaws?id=753340 The ITAT Delhi held that a penalty under Section 271(1)(c) cannot be imposed when the show cause notice under Section 274 is defective. The AO failed to strike off inappropriate portions and did not specify whether the assessee concealed income particulars or furnished inaccurate particulars. The tribunal found the notice defective and bad in law, following the precedent in Sahara India Life Insurance Company Ltd. case. The Revenue failed to demonstrate that the notice contained specific charges, resulting in rejection of penalty proceedings. en-us Tue, 28 May 2024 00:00:00 +0530 Thu, 30 May 2024 10:45:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753340 The ITAT Delhi held that a penalty under Section 271(1)(c) cannot be imposed when the show cause notice under Section 274 is defective. The AO failed to strike off inappropriate portions and did not specify whether the assessee concealed income particulars or furnished inaccurate particulars. The tribunal found the notice defective and bad in law, following the precedent in Sahara India Life Insurance Company Ltd. case. The Revenue failed to demonstrate that the notice contained specific charges, resulting in rejection of penalty proceedings. Case-Laws Income Tax Tue, 28 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753340