2023 (6) TMI 271

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.... ORDER PER VIKAS AWASTHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-47, Mumbai [in short 'the CIT(A)'] dated 14/11/2022 for the Assessment Year 2015-16 confirming penalty u/s. 271(1)(c) of the Income Tax Act, 1961 [in short 'the Act']. 2. Shri Ashok Mehta appearing on behalf of the assessee submitted that the notice dated 31/05/2018 i....

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....ssessing Officer has recorded satisfaction for levy of penalty u/s. 271(1)(c) of the Act on the ground of "furnishing inaccurate particulars of income". Thereafter, the Assessing Officer issued notice u/s. 274 r.w.s. 271(1)(c) of the Act, wherein both the limbs of section 271(1)(c) of the Act are invoked i.e. " concealed particulars of income or furnished inaccurate particulars of income". Both th....

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....s there is no scope of vagueness. The assessee against whom penalty proceedings are initiated has to be made aware in absolute terms the charges for which the penalty proceedings are initiated. The notice vide which charges for levy of penalty are communicated to the assessee should be unambiguous. 5. The Full Bench of Hon'ble Bombay High Court in the case of Mohd. Farhan A. Shaikh vs. ACIT (....