2025 (9) TMI 1301

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....ika H. Pande ORDER PER JUSTICE (RETD.) C.V. BHADANG, PRESIDENT : By this appeal, the assessee is challenging the concurrent orders passed by the authorities below, confirming levy of penalty under Section 271(1)(c) of the Income Tax Act, 1961 ('Act' for short) purportedly on the ground, that the appellant-assessee has furnished 'inaccurate particulars of income'. 2. We have heard the l....

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....rts and Recreation (P.) Ltd., [2020] 113 taxmann.com 574 (Bombay) in order to submit that the notice which was issued in this case did not specifically mention the ground on which the penalty was proposed to be imposed. It is pointed out that the relevant provision contemplates levying of penalty both on account of assessee having concealed the particulars of income or having furnished inaccurate ....