2012 (5) TMI 628 - AT - Income Tax

Summary

Issues involved: The judgment involves appeals filed by the Revenue against orders of the CIT(A) VI, Chennai for different assessment years, challenging the deletion of penalties levied u/s 271(1)(c) of the Income Tax Act.

Assessment Years 1999-2004:
The Revenue contended that the assessee's revised returns filed in response to notices u/s 148 were not voluntary, leading to penalty imposition. However, the assessee argued that the revised returns were based on available data and not concealment. The ITAT held that penalty u/s 271(1)(c) was not applicable, citing relevant case law.

Assessment Year 2005-06:
The Revenue disputed the Commissioner's decision to allow telescoping of certain amounts, arguing against the need for such adjustments. The ITAT upheld the Commissioner's order, noting consistency with a previous decision for the assessment year 2001-02.

The judgment dismissed the Revenue's appeals for all assessment years, affirming the decisions of the Commissioner of Income Tax (Appeals) in both issues.