Dismissing the appeal of the revenue the Court held that unless while issuing notice under section 271, read with section 274, no details of any charge were provided penalty cannot be levied. Relied on Amrit Foods v. Commissioner of Central Excise, U.P. [2005] 13 SCC 419.
PCIT v. Basanti Properties (P.) Ltd. (2020) 114 taxmann.com 540 (Cal.)(HC) Editorial : SLP of revenue is dismissed due to low tax effect, PCIT v. Basanti Properties (P.) Ltd. (2020) 269 Taxman 573 (SC)
S. 271(1)(c) : Penalty-Concealment-Unless while issuing notice under section 271, read with section 274, no details of any charge were provided penalty cannot be levied [S. 274]