Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (5) TMI 1209 - ITAT DELHIPenalty u/s 271(1)(C) - absence of satisfaction - proof of concealment - surrender of income by assessee - Held that:- We have perused the penalty notice dated 24/12/2009 and we note that Ld. assessing officer has not cancelled any of two options. Therefore, in the show cause notice, the Ld. assessing officer has not at all made up his mind that whether the assessee has concealed income or furnished inaccurate particulars of income. On examination of assessment order passed by the Ld. assessing officer he has merely mentioned that penalty proceedings are initiated separately. Therefore, even in the assessment order, the Ld. assessing officer has not given a satisfaction whether there is concealment of income or furnishing of inaccurate particulars of income. Even if the assessee has not challenged the order of assessment levying tax and interest and has paid tax and interest that by itself would not be sufficient for the authorities either to initiate penalty proceedings or impose penalty, unless it is discernible from the assessment order that, it is on account of such unearthing or enquiry concluded by the authorities. No doubt, the surrender from the assessee has come after detection by the revenue authorities, however, before leaving any penalty, the revenue authorities must put a specific charge on the assessee, which in this case, it has failed to. As assessing officer was not sure whether it is a consequence of furnishing of inaccurate particulars of income or concealment of income, therefore, on conjoint readings of assessment order, show cause notice and penalty order it is apparent that one cannot discern that charge on the assessee is whether furnishing inaccurate particulars of income or of concealment of income. We direct the Ld. assessing officer to delete the penalty under section 271(1)(C) - Decided in favour of assessee.
|