2024 (9) TMI 1626

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....ee : Shri Siddharth Agarwal, A.R. For the Revenue : Shri Abhijit Kundu, CIT, D.R. ORDER PER SONJOY SARMA, JUDICIAL MEMBER:- The present appeal is directed at the instance of assessee against the order of ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 20th October, 2023 passed under section 250 of the Income Tax Act, 1961 in Assessment Year....

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....ustained by the ld. CIT(Appeals) in the appellate order dated 31st December, 2016. Based on this sustained addition, ld. Assessing Officer imposed a penalty of Rs. 16,03,200/- under section 271(1)(c) of the Act on 31st March, 2018. 3. Aggrieved with the penalty order, assessee filed an appeal before the ld. CIT(Appeals), but ld. CIT(Appeals) dismissed the appeal and confirmed the penalty. 4.....

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....of mind, rendering the entire penalty proceeding invalid. The ld. A.R. also argued that in the absence of proper specification of charge, it should be set aside. 5. The ld. D.R., on the other hand, supported the orders of lower authorities stating that the assessee had indeed failed to submit correct evidence on record for sale consideration of copy rights and cable rights leading to an additio....

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....4 read with section 271(1)(c) does not specify the nature of default. Several judicial precedence have held that when the charge is not clearly specified in the penalty notice, the penalty proceedings are rendered invalid. The Hon'ble Supreme Court in the case of CIT & Anr, -vs.- M/s SSA's Emerald Meadows (2015) (11) TMI 1620 - Karnataka high Court, the Hon'ble Karnataka High Court in the case of ....