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2018 (1) TMI 230 - AT - Income TaxPenalty u/s 271(1)(c) - addition towards interest income - assessee offering additional income in survey - Held that:- In the present case, the assessee has given detailed explanation before the Assessing Officer and offered additional income and the same is accepted. It is not the case of the Assessing Officer that the explanation given by the assessee is neither false nor bonafide. Therefore, in our opinion, the assessee has discharged burden cast upon him and if at all the Assessing Officer is not agreed with the explanation given by the assessee, he has to make a positive enquiry in respect of additional income offered by the assessee and has to give a finding that the additional income offered by the assessee is a concealed income or furnished in accurate particulars of income. In the present case, in the penal proceedings, the Assessing Officer has not made any such enquiry and no such finding has been given. Thus on account of survey, if the assessee has offered additional income, it cannot be a ground to impose penalty under section 271(1)(c) unless Assessing Officer is able to strictly proved that the income offered by the assessee is either concealed or filed in accurate particulars of income, otherwise section 271(1)(c) cannot be imposed. - Decided in favour of assessee.
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