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2019 (3) TMI 206 - HC - Income TaxPenalty u/s 271(1)(c) - assessee filed its return under VDIS but failed to pay the tax - maximum penalty levy - HELD THAT:- It is an admitted fact that initial declaration was made by the assessee under VDIS. The proof for payment of advance tax within the allowable time is not dispute. Till that stage, the Department was absolutely unaware of the fact that the assessee having earned any such income. Had the VDIS complied with the payment of tax, etc. the question of levy of penalty would not have been agitated. Admittedly the tax has not been paid by the assessee on the income declared under VDIS. This itself will not lead to the conclusion that the assessee has concealed its particular of income as the concealment, as we discussed, means something more with the malafide intention coupled with mens rea. Tribunal was right in holding that penalty u/s 271(1)(c) can not be levied in a case where the assessee filed its return under VDIS but failed to pay the tax. No substantial question of law.
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