Court held that \u00a0it would be too technical and pedantic to take the view that because in the printed notice the inapplicable portion was not struck off, the order of penalty should be set aside even though in the assessment order it was clearly mentioned that penalty proceedings u\/s 271(1)(c) had been initiated separately for furnishing inaccurate particulars of income, (iv) Penalty cannot be imposed for alleged breach of one limb of s. 271(1)(c) of the Act while proceedings were initiated for breach of the other limb of s. 271(1)(c). This vitiates the order of penalty, (v) Threat of penalty cannot become a gag and \/ or haunt an assessee for making a claim which may be erroneous or wrong\u00a0 Concealment of particulars of income was not the charge against the appellant, the charge being furnishing inaccurate particulars of income. \u00a0it is trite that penalty cannot be imposed for alleged breach of one limb of Section 271(1)(c) of the Act while penalty proceedings were initiated for breach of the other limb of Section 271(1)(c). This has certainly vitiated the order of penalty. \u00a0Followed CIT v .Reliance Petroproducts Ltd (.2010) 322 ITR 158 (SC) \u00a0\u00a0(Referred\u00a0 \u00a0v CIT Vs. SSA\u2019s Emerald Meadows, (2016) 73 Taxmann.com 248(SC)\/ 242 Taxman 180 (SC) ; \u00a0CIT Vs. SSA\u2019s Emerald Meadows, (2016) 73 Taxmann.com 241(Karn)(HC) \u00a0\u00a0CIT v. Manjunath Cotton and Ginning Factory\u00a0\u00a0 359 ITR 565\u00a0 ( Kran) (HC) , CIT v . Samson Pernchery, (2017) 98 CCH 39 (Bombay); PCIT Vs. New Era Sova Mine, (2019) SCC OnLine Bom.1032; \u00a0PCIT Vs. Goa Coastal Resorts & Recreation Pvt.Ltd., (2019) 106CCH 0183 ( 2020) 113 taxmann.com 574 \u00a0(Bom) (HC) ; PCIT v . Shri Hafeez S. Contractor, ITA Nos.796 and 872 of 2016 dt. \u00a011.12.2018. ( \u00a0ITA NO 958 of 2017 dt 12-06 2020 (AY.2003 -04)<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271(1)(c) : Penalty \u2013 Concealment \u2013 Business expenditure – Full particulars were declared in the return \u2013 Merely because disallowance of expense , levy of penalty is held to be not justified on merit -Not sticking of inapplicable portion in the notice -In assessment order it was clearly mentioned that penalty proceedings u\/s 271(1)(c) had been initiated separately for furnishing inaccurate particulars of income.- Penalty cannot be quashed only on technical ground not sticking of inapplicable portion in the notice [ S.37(1), 274 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11818","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-34C","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=11818"}],"version-history":[{"count":5,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11818\/revisions"}],"predecessor-version":[{"id":17653,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11818\/revisions\/17653"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=11818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=11818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=11818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}