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2020 (9) TMI 1134 - HC - Income TaxPenalty u/s 271(1)(c) - non-disclosure of income and by voluntary surrender of income in the return of income filed which was claimed to be an expenditure for Land Development Charges debited to Profit and Loss Account, which later on, the Assessee did not claim in the revised return filed after issuance of notice under Section 148 - HELD THAT:- Matter deserves to be remanded back to the learned Tribunal as it seems, it has not only committed some factual errors in respect of filing of return of income by the Assessee but also invoked Explanation 3 and 5A of Section 271(1)(c) with respect to the alleged non-filing return of income by the Assessee in pursuance of notice issued after the Search which took place in the business place of the Assessee and such a revised Return was filed by the Assessee voluntarily surrendering such income. While apparently surrendering all the income on its own by the Assessee ought not to have attracted penalty for concealment under Section 271(1)(c) Tribunal has not only restored the penalty by the impugned order but also restored the penalty on the issue for which no ground was raised in the Grounds of Appeal filed by the Revenue before it. Tribunal ought to decide the Appeal again after giving opportunity to both the parties afresh on the grounds of Appeal raised by the Revenue. We set aside the order passed by Tribunal in respect of penalty under Section 271(1)(c) of the Act and we request the learned Tribunal to decide the Appeal again.
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