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2020 (12) TMI 850 - AT - Income TaxPenalty u/s. 271AAA - payment of taxes were not made on the amount surrendered within the due date - HELD THAT:- CIT(A) has only incorporated the figures given at serial number 1 to 10 and has failed to consider the taxes deposited from serial number 11 to 17 which was not on account of income shown in the return of income. Further, this fact has also been corroborated from the computation of income filed along with return of income, the details of which as incorporated above also matches with Form 26AS. Thus, all the payment of taxes along with interest were duly paid much before due date of filing of return of income. Therefore, the allegation in the charge of the Ld. CIT(A) is completely divorced from the facts and material on record. Accordingly, ground which the Ld. CIT(A) has confirmed the penalty is dismissed. Apart from that, precisely on similar issue and on similar findings of the Ld. CIT(A) in the group cases of the assessee, the Tribunal has come to an independent conclusion that the Ld. CIT(A) has wrongly inferred/interpreted the Form 26AS and therefore, the finding of the Tribunal will also apply mutatis mutandis in this appeal also. Accordingly, the penalty of ₹ 50 Lakhs levied u/s. 271AAA of the Act is directed to be deleted.
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