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2023 (7) TMI 1047 - AT - Income TaxPenalty u/s 271(1)(c) - evade taxes in respect of capital gain - Default by accountant of the assessee - as per DR assessee has filed inaccurate particulars of income as the assessee has not disclosed Long Term Capital Gain as well as the interest income - HELD THAT:- It is an admitted position that there was a mistake on part of the accountant for which the assessee has filed the affidavit of the accountant as well. From the perusal of the affidavit it appears that during the preparation of the particulars of return of income for A.Y. 2013-14 the said accountant was unwell and the subordinate accountant being ignorant above the actual quantification has filed incorrect return of income. The mistake on part of the accountant cannot be treated as mistake of the assessee and therefore, the decision of Price Waterhouse Cooper Pvt. Ltd. [2012 (9) TMI 775 - SUPREME COURT] is squarely applicable in the present case. AO as well as the CIT(A) was not right in imposing the penalty under Section 271(1)(c) - Decided in favour of assessee.
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