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2015 (11) TMI 1785 - ITAT MUMBAIPenalty levied u/s. 271(1)(c) - difference between the original return and return made u/s 153A - HELD THAT:- Returned income filed u/s 153A was accepted by the AO and there was no variation in the assessed income vis-à-vis returned income, therefore, following the aforesaid case of the Tribunal [2015 (9) TMI 1660 - ITAT MUMBAI] who is the relative of the assessee, as claimed by AR and considering the decision of Devidas Sukhani vs DCIT [2013 (9) TMI 1076 - ITAT JODHPUR] and in Smt. Pramila D. Asthekar vs ITO [2012 (9) TMI 956 - ITAT PUNE] we find merit in the argument of the assessee and allow the appeal of the assessee on the ground that no addition was made in order u/s 143(3) r.w.s. 153A of the Act for A.Y. 2003-04, 2005-06 and 2006-07. AO is directed to delete the penalty. A.Y. 2007-08 - original return was filed on 31/03/2008, wherein, the total income was declared at ₹ 15,03,615/-. In the return filed u/s 153A of the Act, the income declared was ₹ 17,21,560/- meaning thereby additional income of ₹ 2,17,945/- was made and consequently addition of ₹ 1,40,000/- was made in order u/s 143(3) r.w.s. 153A. The difference of tax payable comes to ₹ 1,20,482/- between the original return and return made u/s 153A - assessee explained that the return of income filed on 24/08/2009 was accepted by the ld. DCIT while passing order u/s 143(3) of the Act dated 23/12/2009 and only addition retained was to the tune of ₹ 1,40,000/- on account of unsecured loans taken from Vidya Sing on the plea that the assessee did not furnish loan confirmation. Fact remains that the loan was taken by account payee demand draft and reflected in the books of accounts. In view of this fact, it may be a case of upholding quantum but automatically does not justify imposition of penalty u/s 271(1)(c) by taking recourse to Explanation-1 below section 271(1)(c) of the Act, therefore, we direct the AO to delete the penalty for this assessment year also. - Decided in favour of assessee.
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