|CORAM:||Amit Shukla (JM), Jason P. Boaz (AM)|
|CATCH WORDS:||concealment of income, furnishing inaccurate particulars of income, penalty|
|COUNSEL:||Sunil M. Lala|
|DATE:||December 22, 2015 (Date of pronouncement)|
|DATE:||April 5, 2016 (Date of publication)|
|FILE:||Click here to download the file in pdf format|
|S. 271(1)(c): If show-cause notice does not delete inappropriate words whereby it was not clear as to whether the default is concealing particulars of income or for furnishing inaccurate particulars of income, the levy of penalty is invalid|
The Tribunal quashed penalty proceedings initiated u/s 271(1)(c) for AY 2007-08 as penalty show cause notice failed to specify default committed by assessee i.e. the AO did not delete inappropriate words / parts whereby it was not clear as to the default committed by assessee was for concealing particulars of income or for furnishing inaccurate particulars of income.