Allowing the appeal the Tribunal held that the AO has not specified specific limb of section 271 (1)(c) by ticking of any one of the charges in the notice, penalty is not leviable. Tribunal also held that mere denial of exemption u/s 11 for contravention of section 13(1)(d) penalty is not leviable, more so as the High Court had admitted appeal against denial of exemption u/s 11 of the Act. (AY. 2010-11)
Jamsetji Tata Trust v. ACIT (2021) 198 DTR 46 (Mum.)(Trib.) Interocean Shipping (India) Pvt. Ltd. v. DCIT (2021) 91 ITR 63 (SN) (Delhi)(Trib.) S. D. Constructions v ACIT (2021) 91 ITR 43 (SN) (Kol.)(Trib.) Transgulf Frozen Foods Containers Pvt. Ltd. v. ACIT (2021) 91 ITR (Trib.) 22 (Delhi)(Trib.)
S. 271(1)(c) : Penalty-Concealment-Denial of exemption u/s 11-High Court admitted the appeal-Not specifying the specific limb of section 271(1)(c)-Penalty not leviable. [S. 11. 13, 260A]