M/S. CENTRAL COALFIELDS LTD.,,RANCHI vs. DCIT CIRCLE-1, RANCHI

In the result, appeal of the assessee is allowed and the appeal of the revenue\nis dismissed

274\nread with section 271 was bad in law, as it did not specify under which limb of\nsection 271(1)(c) penalty proceedings had been initiated, i.e., the notice failed\nto specify whether the penalty was imposed for concealment of income,\nfurnishing inaccurate particulars, or both. As such the entire penalty\nproceeding is void-ab-initio and liable

M/S. CENTRAL COALFIELDS LTD.,,RANCHI vs. DCIT CIRCLE-1, RANCHI

In the result, appeal of the assessee is allowed