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2015 (2) TMI 1099 - AT - Income TaxPenalty u/s 271(1)(c) - addition in respect of non-deduction of tax - CIT(A) deleted the penalty - Held that:- The factum of deletion of addition in respect of non-deduction of tax by the assessee is not controverted by the ld. CIT-DR. Therefore, we do not see any reason to interfere with the order of the ld. CIT(A) deleting the penalty on this amount.- Decided against revenue Additional income declared in consequence to the survey action - Held that:- We find that the fact that the penalty is levied on the amount which was reflected in the original return as income. The ld. CIT(A) has followed the decision of this Bench of the Tribunal rendered in the case of DCIT Vs. Dr. Satish B Gupta (2010 (8) TMI 641 - ITAT, AHMEDABAD ). Ld. CIT-DR has contended that the CIT(A) failed to appreciate the fact that the additional income was declared in consequence to the survey action by the Revenue. However, it is not disputed by the ld. CIT DR that the assessee has declared this income in his original Return of Income, although it was belated return. As per provisions of Section 271(1)(c), penalty can be imposed if the assessee has concealed the particulars of income or furnishing the inaccurate particulars of such income. There is no dispute with regard to the fact that the particulars of income are reflected in the Return of Income. It is not the case of the Revenue that the returns of income filed were invalid. In fact, the Assessing Officer has proceeded on the basis of the returns filed by the assessee and particulars furnished therein. Therefore, we do not see any good reason to interfere with the order of the ld. CIT(A) which is hereby confirmed. - Decided against revenue
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