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2012 (11) TMI 901 - AT - Income TaxReturn of Income u/s 153 – Whether ROI filed in response to notice u/s 148 is a voluntary return if it filed before the expiry of the time limit u/s 153 – Held that:- Even if the return has been filed within the time prescribed u/s 153 is not a voluntary return. Explanation to Sec.148 makes it clear that nothing contained in the first proviso or the second proviso shall apply to any return which has been furnished on or after the 1st day of October, 2005 in response to a notice served under this section. Therefore, the assessee cannot say that the return filed was voluntary return as it was filed before the expiry of the time limit as specified in section 153. In favour of revenue Penalty u/s 271(1)(c) - Difference in income as TDS statement and ROI u/s 153 – Concealment of income – Assessee filed return u/s 153 in response to notice u/s 148 – AO made addition on said amount & levy penalty u/s 271(1)(c) – Assessee contended that it was not deliberate concealment and it was on account of oversight – Held that:- The plea of the assessee that error was on account of oversight is not tenable. The assessee had filed return of income in pursuance to notice issued u/s 148 and claimed benefit of TDS on the commission earned. The assessee has shown in his ROI, the exact amount of TDS whereas he has shown Rs. 5,00,000/- less in the commission earned. This cannot be said to be an inadvertent or a bonafide mistake. It is clearly a deliberate attempt on the part of the assessee to conceal the income. Issue decides in favour of revenue Since the assessee had filed return for the first time, it would be too harsh to impose penalty on the entire amount of tax. We, therefore, reduce the penalty only to be levied on the income escaped i.e. Rs.5,00,000/- the amount not shown in the return of income. Ground of assessee partly allowed
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