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2019 (4) TMI 1669 - AT - Income TaxLevy of penalty u/s 271(1)(c) - salary income and rental income were subjected to TDS - assessee did not file his return of income originaly and only pursuance to notice issued u/s 148, filed his return of income and paid additional tax - HELD THAT:- There is no dispute that the salary income and rental income were subjected to TDS. It is true that the assessee did not file his return of income and only pursuance to notice issued u/s 148 the assessee filed his return of income. It is equally true that the assessment has been framed on the returned income itself though the notice u/s 148 was issued on the information that the assessee has made agreement for purchase of immovable property for a consideration of ₹ 10.21 lakhs with Shweta Estate Pvt Ltd. I find that no addition has been made in this respect as the Assessing Officer himself is satisfied with the reply of the assessee. When the assessed income and the returned income are same, no reason to hold that the assessee has concealed its particulars of income, since both the incomes were subjected to TDS. This to be a fit case for levy of penalty u/s 271(1)(c) - Decided in favour of assessee.
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