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2006 (10) TMI 121 - MADRAS HIGH COURTPenalty levied u/s 271 - assessee filed revised returns before the issue of notice u/s 148 - HELD THAT:- In the instant case, the assessee filed the revised return only after the search was conducted in the premises of the assessee. The Appellate Tribunal, on the facts of the case, found that the omission or wrong statement by the assessee in the original return was not due to any bona fide or inadvertence or mistake on his part, but the revised return was filed only after the search action. Though it is the case of the assessee that with a view to purchase peace he offered the sums as non-taxable income, the Appellate Tribunal held that there is no material with the assessee to show that the mistake had crept in the original return accidentally without any intention warranting deletion of penalty. On the other hand, the Appellate Tribunal found that the reasons assigned by the Assessing Officer to hold that the assessee had concealed the income are genuine and accordingly, confirmed the penalty. With regard to the third question, the Appellate Tribunal has rendered a finding of fact that the Revenue had established the reasons for additions and proved that the addition was on account of concealed income, and we do not find any reason to interfere with the finding of the Appellate Tribunal. Thus, we are of the considered opinion that the Appellate Tribunal was justified in confirming the penalty levied by the Assessing Officer. We do not see any merit in the appeal. Accordingly, finding no question of law, much less a substantial question of law, the appeal stands dismissed.
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