PATLIPUTRA BUILDERS LIMITED,PATNA vs. ACIT, CENTRAL CIRCLE-2, PATNA

In the result, all the captioned appeals of the assessee for A

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

24- 07-2009] and Hon'ble Karnataka High Court in case of Commissioner of Income-tax Vs. Manjunatha Cotton & Ginning Factory 359 ITR 565 (Karnataka). He submitted that the basic foundation of levying the penalty is to first issue the notice u/s 274 of the Act levying the specific charge against the assessee but no such exercise has been carried

PATLIPUTRA BUILDERS LTD,PATNA vs. ACIT CENTRAL CIRCLE-2, PATNA