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2015 (10) TMI 1762 - HC - Income TaxPenalty u/s 271(1)(c) - undisclosed income - assessee had offered the additional income for taxation only after it was detected by the department while conducting a survey operation u/s 133A(1) - ITAT set aside penalty - Held that:- r. In the facts of the present case, neither the Assessing Officer nor the Commissioner (Appeals) has recorded any categorical finding as to what is the nature of concealment or the inaccurate particulars furnished by the assessee. As noticed earlier, the revised return filed by the assessee has been accepted by the Assessing Officer as it is. Evidently therefore, it cannot be said that any particulars of income had been concealed by the assessee while filing the said return, nor is there any finding that any inaccurate particulars of income were furnished. The Assessing Officer has invoked the provision of section 271(1)(c) of the Act on the ground that the disclosure made in the return was not voluntary. In this regard it may be noted that section 271(1)(c) of the Act does not include “involuntary disclosure” as one of the grounds for imposing penalty. Under the circumstances, no infirmity can be found in the impugned order passed by the Tribunal in setting aside the order of penalty. - Decided in favour of assessee.
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