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2010 (11) TMI 131 - AT - Income TaxPenalty - contention of assessee that disclosure is voluntary and was to buy peace - Interest income was credited in the account of assessee on various dates and TDS was deducted on payment of such interest - Held that:- Onus is heavily on the assessee and his son to lay evidence before the Assessing Officer or before the ld. CIT(A) or before us that return of income by son was filed without the knowledge of the assessee and son of the assessee had no occasion to discuss the details of what has been filed in the return and that assessee had also no occasion to disclose to the son the fact of making of FDR and interest earned thereon - Notwithstanding it is the duty of the power of attorney holder to enquiry and collect all the material facts before filing of the return on behalf of the assessee - May be, the return was filed, as claimed, by the power of attorney holder Shri Hemu Shah, the son of the assessee, there is clearly a non-disclosure of investment in FDs and interest income therefrom If an assessee is exempted from levy of penalty solely on the ground that his agent, power of attorney holder, or guardian filing return on his behalf is not aware about correct income or investment liable to be taxed, as claimed in the present case, then a disorderly condition is likely to emerge where tax payers will be prompted to file untrue return through their agent, power of attorney holder or guardian without there being any accountability of any one. Revised Return - return filed under section 139(5) alone can be said to be a revised return. Since time limit for filing return under section 139(5) had expired on 31-3-08 the return filed on 10-6-08 cannot be validly called a revised return. - Voluntary Discloser - The return filed on 10-6-2008 cannot be said to be voluntary. Primarily, such return is not valid return under section 139(5) and at best it can be treated as an information under the signature of the assessee submitted to the department. Even such information cannot be said to be voluntary because it was submitted when assessee was served notice under section 142(1) and also a letter dated 12-5-2008. Satisfactory Explanation u/s 273 - The explanation furnished by the assessee before the Assessing Officer in assessment proceedings as well as in penalty proceedings was that he is a senior citizen of the age of 70 years and he was sick, hospitalized and his return was filed by his son as power of attorney holder - In the present case it is not shown that power of attorney holder was not aware about the deposits in the bank and interest earned thereon - There is no information as to what happened between 7-3-2006 and 30-11-2006 or thereafter till 31-3-2008 and why he could not declare the investment and interest therefrom- explanation furnished by the assessee is devoid of acceptance as it is not found satisfactory. As a result, we hold that assessee has concealed the particulars of income by not declaring unaccounted investment in bank to the extent of Rs. 22,78,000 and by not declaring the interest income thereon amounting to Rs. 4,46,379 - Decided in the favour of the revenue
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