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2020 (9) TMI 58 - AT - Income TaxPenalty u/s 271(1)(c) - concealment of particulars of income or furnishing inaccurate particulars of income - assessee is defaulter for concealing particulars of his income - HELD THAT:- AO in the show-cause notice has initiated the penalty proceedings “for concealing the particulars of income or furnished inaccurate particulars of such income” and subsequently, while passing the penalty order, the AO has levied penalty for concealing the particulars of income. AO has initiated the penalty proceedings on both the charges, while levying the penalty, the AO has levied the penalty on a specific and clear-cut charge for concealing the particulars of income. Therefore, it is not a case where the penalty has been initiated for a particular charge and thereafter, penalty has been finally levied on a different charge. The assessee was made aware of both the charges at the time of initiation of penalty proceedings and while finally levying the penalty, the AO has given a specific finding that it is a case of concealment of particulars of income. Even where it is held that the charge is uncertain at the initiation stage, the same has been made definite while passing the penalty order, therefore, it is not a case of lack of opportunity to the assessee as well as lack of application of mind on the part of the Assessing officer. It is not a case of the assessee that the charge of concealment of particulars of income is not attracted in the facts of the present case. AO has invoked the provisions of explanation 5A to section 271(1)(c) which has been confirmed by the ld CIT(A). The ld. CIT(A) has dismissed the contention of the assessee of suo motu filing the revised return of income for the reason that such return has been filed, even though the disclosing unexplained investment in jewellery found during the course of search, subsequent to the date of search. - Decided against assessee.
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