CIT v. Virgo Marketing (P) Ltd.
171 Taxmann 156High Court2008#193 most cited
What is CIT v. Virgo Marketing (P) Ltd. authority for?
The assessment order must clearly specify the reason for initiating penalty proceedings under Section 271(1)(c) and explicitly state whether it is for concealment of income or furnishing inaccurate particulars. Failure to identify the specific limb under which penalty is initiated renders the penalty unsustainable.
384
judgments rely on this decision, according to BharatTax’s citation analysis of 367,368 Indian tax judgments — from 2015 to 2026.
Also referred to as
CIT v. Virgo Marketing · Section 271(1)(c) · initiation of penalty proceedings · assessment order · specific charge · concealment of income · furnishing inaccurate particulars · levy of penalty · Section 274 · Section 270A