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2020 (5) TMI 405 - AT - Income TaxPenalty u/s 271(1)(c) - Addition of salary and bank interest received by the assessee - penalty proceedings initiated on the directions of the ld. PCIT u/s 263 (1) - HELD THAT:- Assessee has been out of India and has been receiving salary from three different employers and the returns have been prepared by a consultant. TDS on the salary has been already deducted and deposited to the department. Further, the ESOP amount is a non-cash transaction and on which the TDS has also been deducted and the Form 26 AS has clearly shown the TDS deducted. Assessee has been in different jobs and out of India, the returns have been prepared by a consultant, the explanation of the assessee could fairly substantiate that such explanation is bonafide and material relevant to the computation of the total income have been disclosed by him. In the case of Pitambar Das Dulichand [2003 (12) TMI 11 - MADHYA PRADESH HIGH COURT] held that no penalty is leviable in such case where there is no even an iota of evidence to suggest that the mistake was with the consent and knowledge would be treated as a deliberate act. In the absence of any such deliberate act on the part of the assessee, no penalty u/s 271(1)(c) of the Act is leviable. Also MS. SANIA MIRZA [2013 (2) TMI 220 - ANDHRA PRADESH HIGH COURT] held that an error committed by the assessee does not necessarily attract the penalty proceedings if that error was accepted and the amount was surrendered to tax. - Decided in favour of assessee.
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