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2023 (2) TMI 807 - AT - Income TaxPenalty u/s. 271(1)(c) - non-disclosure of capital gains at the time of filing of return of income - assessee in the revised computation has shown 5% share in these lands on which capital gain was computed - as per AO assessee had furnished revised computation only when the show cause notice was issued to the assessee - CIT(A) held that since both the figures of sale consideration and cost of acquisition were taken incorrectly, the mistake prima facie appears to be inadvertent and error occurred owing to absence of purchase and sale deed at the time of filing of return of income, thus deleted addition - HELD THAT:- We find no infirmity in the order of CIT(A) so as to call for any interference. We further note that DR has not been able to point out any defect in the factual observations made by CIT(A) while allowing the appeal of the assessee. From the facts placed on record, in our considered view, it is a case where apparently a bonafide mistake was made by the assessee owing to lack of documents at the time of filing of return of income. Accordingly, we find no infirmity in the order of CIT(A) and the appeal of the Department is hereby dismissed.
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