| COURT: | Bombay High Court (Goa Bench) |
| CORAM: | M. S. Sonak J, Nutan D. Sardesai J |
| SECTION(S): | 271(1)(c) |
| GENRE: | Domestic Tax |
| CATCH WORDS: | concealment Penalty, penalty |
| COUNSEL: | P. Rao |
| DATE: | November 11, 2019 (Date of pronouncement) |
| DATE: | November 30, 2019 (Date of publication) |
| AY: | - |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| Levy of penalty u/s 271(1)(c) is not valid if (i) there is no record of satisfaction by the AO that there was any concealment of income or that any inaccurate particulars were furnished by the assessee or (ii) If the notice is issued in the printed form and the inapplicable portions are not struck off (Samson Perinchery 392 ITR 4 (Bom) & New Era Sova Mine [2019 SCC OnLine Bom 1032] followed, Mak Data 358 ITR 593 (SC) distinguished). | |
The notice which is issued to the assessee must indicate whether the Assessing Officer is satisfied that the case of the assessee involves concealment of particulars of income or furnishing of inaccurate particulars of income or both, with clarity. If the notice is issued in the printed form, then, the necessary portions which are not applicable are required to be struck off, so as to indicate with clarity the nature of the satisfaction recorded
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