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2016 (5) TMI 613 - ITAT PUNEPenalty u/s 18(1)(c) of the W.T. Act - Held that:- In the instant case, although the assessee has filed the return disclosing the amount of ₹ 90 lakhs prior to issue of notice u/s.17, however, the same was already detected by the department during the course of search and the assessee had admitted the same to be unaccounted cash. Thus the filing of the return was not a voluntary one but after detection by the department. In none of those cases there was detection of unaccounted cash or other assets prior to issue of notice u/s.17. In the instant case there was a search and unaccounted cash of ₹ 90 lakhs was found which was admitted by the assessee during the course of search as unaccounted. Under these circumstances, the various decisions relied on by the Ld. Counsel for the assessee are not applicable. In our opinion, the Ld.CWT(A) is fully justified in upholding the penalty levied by the AO. See Sheikh Hassan Hotels [2008 (6) TMI 598 - BOMBAY HIGH COURT] - Decided against assessee.
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