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2015 (8) TMI 1565 - HC - Income TaxPenalty u/s 271(1)(c) - assessment order was made u/s 153C/143(3) considering the revised return - assessee filed its revised return of income without claiming exemption under section 12AA of the Act and furnishing the computation of income as income from business and profession - HELD THAT:- There is no dispute that the assessments were made under section 153(c) of the Act. The petitioner after filing the returns had filed the revised returns and had participated in the proceedings. The assessment proceedings under section 153C were not challenged. Ultimately orders of assessment were passed. Accepting the assessments taxes were paid. Thereafter, penalty proceedings have been initiated under section 271(1)(c) of the Act for concealment of particulars of income. We find that the Tribunal while dismissing the appeal filed by the assessee has dealt in its order, in detail every aspect, including the factual aspect of the matter. Thus, we find that no substantial question of law arises. Hence, the applications for admission of appeal are dismissed. Consequently appeals are not admitted.
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