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2020 (6) TMI 298 - ITAT PUNEPenalty u/s.271(1)(c) - Penalty levied on tax allegedly sought to be evaded on the amount of interest earned on income tax refund - HELD THAT:- As decided in JAYANTI SUPER CONSTRUCTION (PREVIOULSY : SUPER CONSTRUCTION CO.) AT & POST KAKOSHI TAL SIDHPUR VERSUS THE DCIT MEHSANA CIRCLE MEHSANA [2019 (6) TMI 466 - ITAT AHMEDABAD] we see force in the plea of the assessee that a person of his stature diligently paying large taxes would not imagine to keep away something from the very Department which issued the refund and which would be making the assessees assessment. Such brazen behaviour on the part of the assessee or of any assessee for that matter, cannot at all be ordinarily postulated. It is only on verification of records generated from Income Tax site that the information towards interest component has come to the fore. Failure of the assessee to look into the aforesaid form at the time of filing return would not indicate any contumacious or obstinate conduct on the part of the assessee, but possibly reflect laxity or some carelessness. Under these circumstances, we are of the view that benefit of doubt should go to the assessee, more so where we have a case in hand for determination of penalty which is penal in nature. The order of the CIT(A) is accordingly set aside and the Assessing Officer is directed to cancel this penalty on this score. - Decided in favour of assessee.
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