Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (9) TMI 347 - AT - Income TaxPenalty u/s 271(1)(c) - employer issued revised TDS certificate with additional salary u/s 192 - Assessee filed the income tax return based on the old TDS certificate issued by the employer - revise return was filed after the case was selected for scrutiny - AO initiated the penalty proceedings on the ground that low income was declared - HELD THAT:- Explanation offered by assessee is bonafide to take it out of clutches of the penalty proceedings as no attempt is made by assessee to furnish inaccurate particulars of income nor an attempt is made by assessee to conceal his income more-so there is no prejudice to the Revenue as further income-tax of ₹ 5,00,000/- was deducted at source by employer Pace u/s 192 on behalf of assessee on additional salary income of ₹ 16,63,897/- paid to assessee on 24.09.2013 for impugned ay: 2013-14 within provisions of Section 192 Revised statement of income-tax deducted at source u/s 192 of the 1961 Act in quarterly returns filed with Revenue in Form No. 24Q wherein all the information pertaining to additional salary of ₹ 16,63,897/- and additional TDS paid of ₹ 5,00,000/- stood disclosed to Revenue. - Decided in favour of assessee
|