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2011 (5) TMI 641 - HC - Income TaxPenalty u/s 271(1)(c) - failure to file return for AY 94-95 within time limit prescribed - notice u/s 148 and 142(1) issued on 10.03.97 and 15.10397 resp. - failure to respond to SCN and reminders - best judgment assessment - Held that:- The only eventuality under which non-furnishing of return of income amounts to concealment is as provided under Explanation 3 to Section 271(1). In the present case, first & second requirement of Explanation 3 are satisfied as admittedly, the petitioner had not been previously assessed under the provisions of the Act, and had not filed his return of income within the period specified under S153(1), however, a notice had been issued to the petitioner u/s 148 on 10.03.1997, which was within the period specified u/s 153(1). In the circumstances, the third condition, namely, that no notice u/s 142(1) or Section 148 should have been issued within the period specified u/s 153(1) is clearly not satisfied. Also in the revision application the petitioner has stated that the reason for not appearing in response to the notices issued u/s 148 and 144 was that he had handed over the said notices to the income-tax practitioner, Shri K. J. Joshi to do the needful in the matter. That he being his tax consultant he relied upon his assurance while in fact he betrayed him. However, the revisional authority has without even considering the explanation put forth by the petitioner, dismissed the revision petition merely on the ground that the petitioner had not responded to the notices issued -no penalty could be levied on the petitioner u/s 271(1)(c) - Decided in favor of Assessee.
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