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2021 (10) TMI 785 - AT - Income TaxPenalty levied u/s. 271(1)(c) - undisclosed income surrendered during the course of survey - HELD THAT:- We find that it is a judiciary settled proposition that where the income declared during the course of survey is offered to tax in the return of income filed within the due date prescribed u/s. 139(1) of the Act and the assessing officer accepts the income declared in the return, the assessee cannot be held to have concealed the particulars of income nor or has furnishing inaccurate particulars of income because the due date of filing return of income did not expire and the particulars furnished in the return of income have not found to be untrue. Assessee cannot be held to have concealed or furnished the particulars of income since the income declared during the course of survey has been offered to tax in the return of income filed before the due date of filing the return of income. We, thus, find no reason to interfere in the finding of Ld. CIT(A) and the same stands confirm. Grounds raised by the revenue are dismissed.
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