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2023 (5) TMI 575 - AT - Income TaxPenalty u/s 271(1) (c) - assessee voluntarily deposited the tax along with the computation of income in response to the said notice u/s 133(6) - As per AO assessee has not filed the return of income even though she is supposed to do so and has paid the tax and filed return of income only on the issue of notice by the revenue - HELD THAT:- The assessee on his own after receiving notice u/s 148 voluntarily declared the income in ROI and paid taxes of thereon i.e. even before providing reason recorded for the escapement of income. The aforesaid explanation given by the assessee through ROI was neither rejected nor it was held to be mala fide by the AO and once the AO had failed to take any objection in the matter, the offer so made came from the assessee on its own and was a voluntary offer made i.e. without any detection and this voluntary action of the assessee cannot be considered as equivalent to providing inaccurate particulars of income or concealing the particulars of Income. See Pushpendra Surana [2013 (8) TMI 969 - RAJASTHAN HIGH COURT] as held no inference drawn by the authority that it was a deliberate concealment on the part of the assessee and it could not be considered that there was an inaccurate particulars of income that was made the basis for inflicting penalty upon the assessee in exercise of powers conferred u/s 271(1)(c). Since the assessee participated in the assessment proceeding, has paid the tax, and filed the computation of income before issue of notice u/s. 148 levy of penalty is not sustainable - Decided in favour of assessee.
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