TaxTMI 
TaxTMI 
2024 (10) TMI 483
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....s of the case and in law, the learned Commissioner of Income Tax (Appeals) erred in confirming the penalty levied by Assessing Officer u/s 271(1)(c) of Rs. 5,28,234/- which is bad in law. 2. a) On the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals) erred in confirming the action of Assessing Officer of claiming that the penalty levied u/s 271(1)(c) in the assessment order is levied under both limbs i.e concealment of income and also for furnishing of inaccurate particulars which is bad in law without considering the fact that concealment and furnishing of inaccurate particulars cannot exist together. b) On the facts and circumstances of the case and in law, the learned Commissioner of Inc....
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....f the Act dated 21.03.2014 for furnishing inaccurate particulars of income and concealment of income. 4. The assessee was in appeal before the first appellate authority, challenging the impugned penalty and the ld. CIT(A) vide order dated 22.11.2023, dismissed the appeal of the assessee on the ground that the assessee has failed to substantiate her claim. 5. The assessee is in appeal before us, challenging the impugned order of the ld. CIT(A). 6. The learned Authorised Representative (ld. AR for short) for the assessee argued on the legal ground stating that the ld. A.O. had issued notice u/s. 274 r.w.s. 271 of the Act, without striking out the irrelevant limb as to whether the penalty was levied for concealment of particulars of income ....
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....h Court in the case of Veena Estates Pvt. Ltd. (supra) in support of the Revenue's contention that the non striking of the irrelevant limb would not vitiate the penalty proceeding. On perusal of the decision cited by the ld. DR, it is observed that the Hon'ble High Court has held that since the assessee has not raised this issue at an earlier point of time, pertaining to the defect in the notice, the same could not be a violation of principles of natural justice which plea was raised belatedly before the Hon'ble High Court for the first time and the same was not contended before the ld. A.O., the first appellate authority and even before the Tribunal. We are of the considered view that this decision relied upon by the ld.DR does not....