2023 (5) TMI 781

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....and on facts in allowing the penalty u/s 271(1)(c) of the Income Tax Act, 1961 amounting to Rs.54,81,000/- levied on account of addition to the income declared by the assessee as the same tantamount to the furnishing of inaccurate particulars of income. 2. The order of the Ld. CIT (A) be set aside and the order of the AO be restored." "ITA No.1926/Del/2018 1. The Ld. CIT (A) has erred in law and on facts in allowing the penalty u/s 271(1)(c) of the Income Tax Act, 1961 amounting to Rs.12,03,491/- levied on account of addition to the income declared by the assessee as the same tantamount to the furnishing of inaccurate particulars of income. 2. The order of the Ld. CIT (A) be set aside and the order of the....

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....ces of the case, Ld. AO has erred in law and on facts in imposing penalty u/s 271 (l)(c) and framing the impugned penalty order and that too without assuming jurisdiction as per law and without complying with the mandatory conditions as laid down under the said section. 2. That having regard to the facts and circumstances of the case, Ld. AO has erred in law and on facts in imposing penalty u/s 271 (l)(c) and passing the impugned penalty order more so when the charge on penalty notice dated 27.03.2003 was not specified as to whether penalty is being initiated for "concealment of particulars of income" or for "furnishing inaccurate particulars of income". 3. That in any case and in any view of the matter, action of Ld. AO i....

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.... k) The Hon'ble High Court of Allahbad in the case of Chandra Prakash Jain vs. ACIT (Inv.), (2014) 107 DTR 0081, has held that there is no illegality if the Tribunal proceeds to dispose the different aspects of the same issue. l) Reliance is also placed on the decision of CIT vs. Smt. Sanghamitra Bharali, (2014) 361 ITR 0481(Gau.)" 6. We have heard both the parties with regard to the petition filed under Rule 27. In the interest of justice, we admit the same. 7. The petition speaks of defect in the penalty notice inasmuch the claim is that charge in the penalty notice is not specified as to whether penalty is levied on account of concealment of particulars of income or for furnishing of inaccurate particulars of income....