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2018 (9) TMI 1173 - AT - Income TaxPenalty u/s 271 (1)(c) - disallowance of Registrar of Companies Charges and Deduction u/s 80HHC - assessee has already paid tax as per the provisions of MAT u/s 115JB - Held that:- No doubt, there was concealment but that had its repercussions only when the assessment was done under the normal procedure. The assessment as per the normal procedure was, however, not acted upon. On the contrary, it is the deemed income assessed under Section 115JB of the Act which has become the basis of assessment as it was higher of the two. Tax is thus paid on the income assessed under Section 115JB. Hence, when the computation was made under Section 115JB of the Act, the aforesaid concealment had no role to play and was totally irrelevant. Therefore, the concealment did not lead to tax evasion at all. Thus, there is no concealment of income or inaccurate furnishing of documents in the present case and case of CIT Vs. M/s Nalwa Sons Investment Ltd. squarely applicable to the present case [2010 (8) TMI 40 - DELHI HIGH COURT] - decided in favour of assessee
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