2017 (12) TMI 1466

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....nds, we found that they all revolve around the common issue raised in ground No.1 and we proceed to extract the Ground which reads as under : "1. The Ld.CIT(A) erred in confirming the levy of penalty u/s.271(1)(c) of Rs. 69,74,391/-." 3. Briefly stated relevant facts are that the assessee is an individual and originally filed the return of income on 17-12-2009 declaring total income of Rs. 12,83,31,220/-. On 08-09-2010, there was search action on the assessee u/s.132 of the Act and the assessee declared Rs. 2 crores as his additional income which constitutes "on-money" received on sale of the flats. In response to notice u/s.153A, assessee filed the return of income on 16-10-2012 disclosing total income of Rs. 14,83,31,220/- which inc....

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....crores, if it consists of case of "concealed income" or a case of "furnishing of inaccurate particulars of such income". He also drew our attention to the notices issued u/s.274 dated 19-03-2013 and dated 23-08-2013 (two officers issued the said notices at different time; may be due to change in incumbency). As per the above, notices issued were for violation of both the limbs of clause (c) to section 271(1) of the Act. It is the summary of the arguments of the Ld. Counsel that on this legal issue/additional ground, by not specifying the applicable limb of clause (c) to section 271(1) of the Act, the AO's ambiguity in mind is very clear. Therefore, the penalty proceedings suffers from incurable deficiencies. For the proposition, he relied o....

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....9-03- 2013 : "Whereas in the course of proceedings before me for the A.Y. 2009-10, it appears to me that you : have concealed the particulars of your income and furnished inaccurate particulars of such income. . . ." (4) Extract from notice u/s.274 r.w.s. 271(1)(c) of the Act dt.23-08- 2013 : ""Whereas in the course of proceedings before me for the A.Yrs. 2009-10 to 2011-12, it appears to me that you have concealed the particulars of your income and furnished inaccurate particulars of such income. . . ." 8. From the above 4 extracts, the AO is found to have used "or" at one place, "and" at other place and "concealed the particulars of your income" at one place and "furnished inaccurate particulars of such in....