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2018 (6) TMI 1179 - ITAT MUMBAIPenalty u/s. 271 (1)(c) - assessee has omitted to include interest income from Government of India Bonds in return of income - voluntary filling revised return - Held that:- Assessee has omitted to include interest income from Government of India Bonds by mistaken belief of the facts - no reason for the AO to levy penalty u/s 271(1)(c) for furnishing inaccurate of income, more so, when the assessee has voluntarily filed revised statement of total income including interest received on Government of India Bonds before completion of assessment. This legal proposition is further supported by the decision of Hon’ble Supreme Court in the case of Suresh Chandra Mittal [2001 (6) TMI 63 - SUPREME COURT] wherein the Hon’ble Supreme Court held that voluntary surrender of income cannot be considered as concealment of particulars of income or furnishing of inaccurate particulars of income. - decided in favour of assessee.
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