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2020 (1) TMI 352 - AT - Income TaxPenalty u/s.271(1)(c) - assessment u/s.153A - assessee has disclosed excess income over and above the income declared in the original return, the same was not mentioned in the body of the show cause notice issued by the AO - HELD THAT:- In the returns filed in response to notice u/s.153A of the Act the assessee claimed that additional income has been received by him and the same was not declared by him in the returns filed before the date of search, therefore the CIT(A) has rightly observed that provisions of Explanation 5A to section 271(1)(c) of the Act are applicable on account of concealment of particulars of his income or furnished inaccurate particulars of income, because all the conditions laid down in Explanation 5A have been met and the deeming provisions of section 271(1)(c) of the Act are clearly applicable to both the cases of the assessee. In view of the above, it is established beyond doubt that the assessee has concealed particulars of its income to the extent of additional income received by him. Ld. AR before us also could not bring any cogent material to controvert the above findings of the authorities below. Accordingly, we do not see any good reason to interfere in the orders of both the authorities below and, hence, we uphold the same and dismiss both the appeals of the assessee for A.Y.2010-2011 & 2011-2012, respectively. Penalty u/s.271(1)(c) - AY 2012-2013 to 2015-2016 - HELD THAT:- AO in the assessment has initiated penalty u/s.271(1)(c) of the Act on the differential amount disclosed in the return of income filed u/s.153A of the Act by the assessee without mentioning either of the two limbs as provided under the provisions of Section 271(1)(c) of the Act i.e. for concealment of particulars of income or for furnishing of inaccurate particulars of such income. Thereafter in the penalty order dated 28.06.2018, also the AO while levying penalty u/s.271(1)(c) of the Act has used both the expression. AO is not sure on which count he intends to levy penalty as per the provisions of Section 271(1)(c) of the Act either for concealment of particulars of income or for furnishing of inaccurate particulars of such income. Both these situations are contradictory to each other. Neither the assessment order nor the penalty order nowhere states the specific charge of alleged concealment and/or furnishing of inaccurate particulars of income. Therefore, in our opinion, the entire penalty imposed by the AO and confirmed by the CIT(A) stands vitiated and, therefore, is not sustainable. Further, in all the cases, the revised return filed by the assessee has been accepted by the AO. Admittedly, it is also a fact that in the all the cases, both returned income and the assessed income are same. Therefore, when the revised return is accepted and the income is assessed as per the revised return, there is no scope for penalty. - Decided in favour of assessee
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