2018 (8) TMI 1804

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.... PER R. K. PANDA, AM : This appeal filed by the assessee is directed against the order dated 06.04.2015 of the ld. CIT(A)- 1, Raipur (CG) relating to assessment year 2005-06. 2. Levy of penalty of Rs. 74,550/- u/s 271(1)(c) of the Income Tax Act, 1961 by the Assessing Officer which has been upheld by the ld. CIT(A) is the only issue raised by the assessee in the grounds of appeal. 3. T....

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....#39;ble High Court in the said decision, following the decision in the case of Manjunath Cotton and Ginning Factory reported in 359 ITR 565, had upheld the decision of the Tribunal cancelling the penalty and dismissed the appeal filed by the Revenue on the ground that the notice issued by the Assessing Officer u/s 274 r.w.s. 271 is bad in law since it did not specify under which limb of section 27....

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....iation of penalty proceedings and the provisions of section 292B/292BB will come to rescue of the Department. 5. We have considered the rival arguments made by both the sides and perused the material available on record. A perusal of the notice issued u/s 274 r.w.s. 271 shows that the inappropriate words in the said notice has not been struck off i.e. the notice does not specify under which lim....

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....decision of the Division Bench of this Court rendered in the case of COMMISSIONER OF INCOME TAX -VS- MANJUNATHA COTTON AND GINNING FACTORY (2013) 359 ITR 565. 4. In our view, since the matter is covered by judgment of the Division Bench of this Court, we are of the opinion, no substantial question of law arises in this appeal for determination by this Court. The appeal is accordingly dism....