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2020 (2) TMI 1231 - AT - Income TaxPenalty u/s 271AAB(1)(a) - assessee has admitted the undisclosed income u/sec. 132(4) - Whether assessee has filed the return of income within the specified date and admitted income and was offered for taxation? - HELD THAT:- We find that the assessee had filed the return of income on 31/10/2013 for the A.Y. 2013-14 which is placed in paper book at page No. 41, therefore the Assessing Officer is not correct in rejecting the plea of the assessee on the ground that the assessee has not filed the return of income as per specified date. Insofar as application of section 271AAB(1)(a) is concerned, we find that during the course of assessment proceedings as well as penalty proceedings, the assessee has explained before the Assessing Officer that the society had received anonymous donations from various persons for upliftment of the activities of the society. It is also submitted that the said donations received for the betterment of the activities of the society and the persons who have contributed such donations were not anonymously disclosed their names/identify and submitted that due to this reason the society was handicapped in recording their names and identity. DR has pointed out that the assessee has failed to substantiate the manner in which the undisclosed income is derived. So far as this aspect is concerned, as per section 115BBC, any trust or institution received anonymous donations, is not necessary to mention identity/address and other particulars in the books. Therefore, once the assessee has explained the way in which he derived income and also the purpose for which it is utilized, it is not necessary for the assessee being an educational society to substantiate further with the source of the income received in view of section 115BBC(2) & (3) of the Act. Therefore, in view of the facts and circumstances of the case, we find that the assessee has fulfilled all the conditions laid down in section 271AAB(1)(a), therefore penalty at 10% is leviable in this case. No infirmity in the order passed by the ld. CIT(A). Thus, this appeal filed by the Revenue is dismissed. A.Y. 2014-15 - the due date of filing of the return is 30/09/2014. The assessee filed the return of income on 29/11/2014 which was beyond the specified date and confirmed the order of the Assessing Officer by rejecting the plea of the assessee and in levying penalty at 10%. We find no reason to interfere with the order passed by the ld.CIT(A). Thus, this appeal filed by the assessee is dismissed.
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