Tribunal held that\u00a0 the notice issued before levy of the penalty, the Assessing Officer had mentioned \u201chave concealed the particulars of your income or furnished inaccurate particulars of such income in terms of Explanations 1, 2, 3, 4 and 5.\u201d The notice clearly showed that it had not specified under which limb of section\u00a0271(1)(c)\u00a0of the Act the penalty proceedings had been initiated, whether for concealment of particulars of income or furnishing inaccurate particulars of income. The entire penalty proceedings were, therefore, vitiated and no penalty was leviable. Further, the Assessing Officer in the assessment order had not recorded any satisfaction under which limb of section\u00a0271(1)(c)\u00a0of the Act the penalty proceedings had been initiated. The Assessing Officer merely mentioned at the bottom of the assessment order after computing the income that penalty proceedings under section\u00a0271(1)(c)\u00a0of the Act had been initiated separately. Thus, there was violation of the law in the matter. Hence, there was no justification to levy the penalty under section\u00a0271(1)(c)\u00a0of the Act against the assessee. The orders of the authorities were to be set aside and the penalty was to be deleted. (AY. 1996-97)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271(1)(c) : Penalty-Concealment-Failure to specify the charge, which limb penalty proceedings initiated-Penalty quashed. <\/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":[21],"tags":[],"class_list":["post-17878","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4Em","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17878","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=17878"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17878\/revisions"}],"predecessor-version":[{"id":17879,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17878\/revisions\/17879"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}