2021 (3) TMI 479

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...., Advocate For the Revenue : Shri Prakash Dubey, Sr. DR ORDER PER BHAVNESH SAINI, J.M. This appeal by assessee has been directed against the order of Ld. CIT(Appeals)-XI, New Delhi dated 18.02.2013 for AY 2003-04, challenging the levy of penalty u/s 271(1)(c) of the Income Tax Act, 1961. 2. Briefly the facts of the case are that return declaring nil income after setting off the brou....

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....tted that in the penalty notice the AO has mentioned both the ingredients of section 271(1)(c) of the Act, therefore, notice is invalid and bad in law and, as such, penalty is liable to be cancelled. 5. On the other hand, Ld. DR relied upon the orders of the authorities below and has submitted that this point was not raised before the authorities below. 6. We have considered the rival submis....

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....ald Meadows reported in 73 taxmann.com 241, the Hon'ble Karnataka High Court confirm the order of the Tribunal in which the Tribunal held that the notice issued by the AO u/s 274 read with section 271(1)(c) of 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....