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2019 (3) TMI 734 - ITAT PUNEPenalty u/s 271(1)(c) - additional income was declared in survey u/s 133A - assessee had disclosed additional income on the basis of alleged receipts which were not reflected in the books of accounts - date of filing of return u/s 139(1) had not expired - proof of “concealment of income” and “furnishing of inaccurate particulars of income” - HELD THAT:- Additional income was offered by the assessee in his return of income and the same has been accepted by the AO in the assessment framed u/s 143(3) of the Act. CIT(A) while deleting the penalty has noted that on the date of survey, the date of filing of return u/s 139(1) had not expired and assessee had also not filed his return of income upto the date of survey. The fact of “concealment of income” and “furnishing of inaccurate particulars of income” can be established only with reference to the income declared in the return of income. In the present case, since the income declared by the assessee in the return of income has been accepted, there cannot be the case of “concealing the particulars of income” or “furnishing the inaccurate particulars of income”. The case of Dr. Ranjana, the wife of assessee, penalty levied u/s 271(1)(c) on the additional income declared out of the same survey was deleted by the Co-ordinate Bench of the Tribunal [2019 (2) TMI 352 - ITAT PUNE]. - Decided against revenue.
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