Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (5) TMI 1688 - AT - Income TaxPenalty u/s 271(1)(c) - addition u/s 80D in revision of return filed u/s 153A - additional income offered suo moto - Held that:- The conditions under section 271(1)(c) must exist before the penalty is imposed - the assessee himself offered the additional income in revised return of income - Everything depends upon the return of income filed, because return of income is the only document, where the assessee can furnish the particular of income. When such particulars found to be inaccurate, the liability would arise. In the present case, the assessee offered additional income of ₹ 2,00,000/-, which was accepted by Assessing Officer. We have noted that the Assessing Officer has not recorded his satisfaction that return of income was found to be incorrect or erroneous or false - No penalty levied - Decided in favor of assessee. Imposition of penalty u/s 271(1)(c) for failure to file return of income - Held that:- There was no incorrect particular furnished by the assessee while filing revised return of income and there is no evasion of tax - failure to furnish return causes penalty u/s 271F - Decided in favor of assessee.
|