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2018 (2) TMI 1881 - AT - Income TaxLevy of penalty u/s. 271(1)(c) - as alleged assessee has included certain income in the return filed pursuance to the notice u/s. 148 - HELD THAT:- In its return of income filed on 22.09.2011, the assessee has included the disclosure made by Shri Pranshankar Sompura in his statement recorded u/s. 133A on 21.04.2010. The returned income was accepted as such after making a minor addition on account of low G.P. rate. Notice u/s. 148 is dated 01.03.2013. Therefore, it cannot be said that the assessee has included certain income in the return filed pursuance to the notice u/s. 148 of the Act. Moreover, the assessee did not file any fresh return but instead stated that the return already filed should be treated as filed in pursuance to the notice u/s. 148 of the Act. We do not find this to be a fit case for the levy of penalty u/s. 271(1)(c) of the Act. We accordingly direct the A.O. to delete the penalty so levied - Decided in favour of assessee.
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