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2011 (1) TMI 165 - AT - Income TaxPenalty - Survey - Undisclosed bank account - Department contended that the assessee concealed the bank accounts, only because of survey action, the bank accounts came to light and the assessee offered additional income only because he was caught by the department - Held that: The question of concealment of income or furnishing of inaccurate particulars of income for the purpose of section 271(1)(c) of the Act is to be determined with reference to the original return - Even if the income is surrendered in the revised return, the assessee still has to explain why the income was not shown and why inaccurate particulars of income furnished in the original return Blameworthiness attached to the assessee with reference to the original return cannot be avoided by filing revised return after concealment was detected by the revenue authorities. - Where the concealment of income made in the original return or where the surrender of income made was not voluntarily but was as a result of detection by the assessing officer, filing of revised return is of no consequence - There is a burden cast upon the assessee to prove that the deposits indeed is not the income of the assessee and this burden is not discharged in this case - Accordingly, if the assessee satisfactorily explain the nature and source of deposits, the penalty cannot be levied - Matter remanded back - Appeals are allowed for statistical purpose
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