Held that the Assessing Officer had neither mentioned in assessment order nor in his penalty notice as to whether penalty was initiated for concealment of income or for furnishing inaccurate particulars of income and he had also not mentioned in order that he intended to levy penalty under Explanation 5 of section 271(1)(c), said penalty under section 271(1)(c) was not justified and was to be deleted.(AY. 2014-15, 2015-16)
Chandra Suresh Kothari v. DCIT (2022) 193 ITD 547 (Nagpur) (Trib.)/Unicare Developer and Infrastructure Pvt. Ltd. v. ITO (2022)93 ITR 55 (SN)(Delhi) ( Trib)
S. 271(1)(c) : Penalty-Concealment-Not referring specific charge in the notice or assessment order-Levy of penalty is not valid.