We have heard both the parties and perused the material available on record. It is pertinent to note that there is no concealment in the present case. The assessee has also filed all the details during the regular assessment proceedings. From the notice dt. 28th Dec., 2011 produced by the learned Authorised Representative during the hearing, it can be seen that the AO was not sure under which provisions of s. 271 of the IT Act, 1961, the assessee is liable for penalty. Thus, notice under s. 271(1)(c) r/w s. 274 of the Act itself is bad in law. We, therefore, set-aside the order of the CIT(A) and direct the AO to cancel the penalty so levied.