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2020 (4) TMI 682 - AT - Income TaxLevy of penalty u/s 271(l)(c) - additional income disclosed due to search and survey at the premises - additional income disclosed in returns filed u/s 153A - contention is that no search and survey has taken place at the premises of the assessee and assessee has voluntarily disclosed the income of the department - HELD THAT:- In a recent decision of Supreme Court in the case of Rajkumar Gulab Badgujar [2019 (9) TMI 360 - SC ORDER] wherein it is held that wherein the returned income has been accepted u/s 153C and therefore, it is held that in such case, penalty cannot be imposed. Also decided in PARAG V. CHUGH VERSUS THE DCIT, CI RCLE – 1, BARODA. [2019 (10) TMI 1240 - ITAT AHMEDABAD] - Decided in favour of assessee.
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