2019 (6) TMI 242

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....y Assessee has been directed against the Order of the Ld. CIT(A)-30, New Delhi, Dated 05.10.2018, for the A.Y. 2010-2011, challenging the levy of penalty under section 271(1)(c) of the I.T. Act, 1961. 2. I have heard the Learned Representatives of both the parties and perused the material available on record. 3. Learned Counsel for the Assessee submitted that A.O. before levy of the penalty ....

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.... income in terms of Explanation 1, 2, 3, 4 & 5." 5.1. These facts, therefore, clearly show that notice issued by the A.O. for levy of penalty under section 271(1)(c) of the Act to be bad in law as it did not specify in 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 inaccurate particulars....