Held that\u00a0 in the notice issued under section\u00a0274\u00a0read with section\u00a0271(1)(c)\u00a0of the Act, the inappropriate words had not been struck off and there was no specific charge as to concealment of income or furnishing of inaccurate particulars of income. The assessment order also did not specify whether the charge was for concealment of income or furnishing of inaccurate particulars of income. The penalty levied under section\u00a0271(1)(c)\u00a0was not sustainable and had to be deleted. Tribunal also held that\u00a0 the assessee had not furnished inaccurate particulars of income as the revised return was filed during the course of assessment proceedings before this as pointed out by the Assessing Officer in the notices under sections\u00a0142(1)\u00a0and\u00a0143(2). The assessee had claimed the statutory deductions or exemptions only. Thus, section\u00a0271(1)(c)\u00a0was not attracted.(AY. 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271(1)(c) : Penalty-Concealment-Neither assessment order nor penalty notice specifying the charge-Revised return was filed before issue of notice u\/s. 142(1) and 143(2) of the Act-Claiming only statutory deduction-Levy of penalty was held to be not valid. [S. 11(2), 12A, 142(1), 143(2), 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":[21],"tags":[],"class_list":["post-26053","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6Md","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26053","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=26053"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26053\/revisions"}],"predecessor-version":[{"id":26054,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26053\/revisions\/26054"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=26053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=26053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=26053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}