Dismissing the appeal of the revenue the Court held that where in the notice issued under section 274 of the Act, the irrelevant limb (concealment of income or furnishing of inaccurate particulars of income) was not struck off, the penalty proceedings were bad in law and were to be quashed.
PCIT v. New Era Sova Mine (2021) 433 ITR 249 (Panji) (Bom.)(HC) PCIT v. New Ear Vaglar Mine (2021) 433 ITR 249 (Panji) (Bom.)(HC) PCIT v. New Era Keli Mine (2021) 433 ITR 249 (Panji) (Bom.)(HC)
S. 271(1)(c) : Penalty-Concealment-Not striking off the irrelevant limb-Penalty is held to be bad in law. [S. 274]