2017 (10) TMI 1420

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....Sr.DR ORDER PER K.N.CHARY, JUDICIAL MEMBER This appeal preferred by the assessee is directed against the order dated 31.08.2015 in appeal No.499/14-15 passing by the Commissioner of Income Tax (Appeal) [in short "CIT(A)"]-6, Delhi for 2011-12 Assessment Year where Ld.CIT(A) confirmed the penalty of Rs. 5,55,000/- levied by the AO. 2. Briefly stated facts are that the assessee is a comp....

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....-. Appeal preferred by the assessee was dismissed by the Ld.CIT(A). Hence, the assessee filed this appeal challenging the levy of penalty as confirmed by the Ld.CIT(A), both on the questions of law and facts. 3. At the outset, it is the arguments of the Ld. Counsel for the assessee that notice issued u/s 274 r.w.s. 271 of the Act does not speak of any specific limb of section 271(1)(c) of the A....

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.... Act, 1961 (for short 'the Act') to be bad in law as it did not specify which limb of Section 271(1)(c) of the Act, the penalty proceedings had been initiated i.e., whether for concealment of particulars of income or furnishing of inaccurate particulars of income. The Tribunal, while allowing the appeal of the assessee, has relied on the decision of the Division Bench of this Court rendered in the....

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....section 271(1)(c) of the Act namely concealment of particulars of the income or furnishing of inaccurate particulars thereof, are mentioned and this note does not specify under which limb, the assessee is charged, defend themselves. The decisions relied upon by the assessee, therefore, are applicable to the facts of the case and the proceedings u/s 271(1)(c) of the Act, are bad for want of valid n....