Sec. 271(1)( c) & 274 of Income Tax Act, 1961 - Penalty - The AO in the impugned penalty order clearly stated that he issued show cause notice u/s. 274 read with section 271(1) ( c) of the Act for concealment of particulars of income and furnishing of inaccurate particulars of income. CIT(A) confirmed the impugned action of penalty levied by the AO . ITAT held that ”the show cause notice issued in the present case u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income. The show cause notice u/s 274 of the Act does not strike out the inappropriate words. In these circumstances, we are of the view that imposition of penalty cannot be sustained“. Appeal of the assessee allowed.—SIKHA MITTAL vs. ITO.[2020] 26 ITCD Online 036 (ITAT-GUWAHATI)