2019 (2) TMI 1073

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....he Shyam, CIT, DR & Shri Shankar Halder, Sr(DR), JCIT ORDER PER P.M. JAGTAP, VICE PRESIDENT This appeal filed by the assessee is directed against the order of Ld. CIT(A) - 14, Kolkata dated 04.11.2015 whereby he confirmed the penalty of Rs. 3,24,159/- imposed by the AO u/s 271(1)(c) of the Income tax Act, 1961. 2. The assessee in the present case is an individual who is engaged in the ....

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....er of the Ld. CIT(A), the assessee has preferred this appeal before the Tribunal. 3. We have heard the arguments of both the sides and also perused the relevant material available on record. The learned counsel for the assessee has raised a preliminary issue challenging the penalty imposed u/s 271(1)(c) on the ground that the notice issued initiating the penalty proceedings being defective, the....

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....de paragraph no. 14 and 15 of its order which read as under: "From the aforesaid discussion it can be seen that the line of reasoning of the Hon'ble Bombay High Court and the Hon'ble Patna High Court is that issuance of notice is an administrative device for informing the assessee about the proposal to levy penalty in order to enable him to explain as to why it should not be done. Mere mi....

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.... We, therefore, prefer to follow the view expressed by the Hon'ble Karnataka High Court in the case of Manjunatha Cotton & Ginning (supra). We have already observed that the show cause notice issued in the present case u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income.....