TMI Blog2013 (11) TMI 114X X X X Extracts X X X X X X X X Extracts X X X X ..... g taxable income – deemed concealment – The assessed income as per the order of this Tribunal is more than the income actually returned by the assessee in all the years. Therefore, the difference between the income returned and income assessed is concealed income – Decided against assessee. - - - - - Dated:- 27-4-2012 - Order The order of the Bench was delivered by N.R.S. Ganesan (Judicial Member).-I. T. A. Nos. 169 to 172/Coch/ 2010 are directed against the common order passed by the Commissioner (Appeals) confirming the penalty levied under section 271A of the Act for the assessment years 1998-99 to 2001-02. I. T. A. Nos. 216 to 222/Coch/ 2010 are directed against the common order passed by the Commissioner (Appeals) confirming the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usiness in a remote village in the State of Kerala. It is very difficult for the assessee to get accountant in a remote village. The assessee was also not filing return of income regularly. The fact remains is that the assessee is not maintaining books of account. Section 44A(2) clearly says that the assessee has to maintain the books of account wherever the income exceeds Rs. 25,000. The Legislature provides for immunity from levy of penalty wherever there was a reasonable cause for not complying with the provisions of the Income-tax Act. In other words, section 273B provides for immunity from penalty wherever there was a reasonable cause. In this case, the assessee claims that in a remote village it is very difficult to get an accountant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal has also deleted part of the addition made by the Assessing Officer. It is not a case of concealment of any income within the meaning of section 271(1)(c) of the Act. On the contrary, Shri S.R. Senapati, the learned Departmental representative submitted that in the original returns the assessee has not disclosed the correct income. The Assessing Officer collected the material from various shops and different banks with regard to the transaction of the assessee. On the basis of the material collected from the shops and the banks the addition was made. Referring to the penalty order, the learned Departmental representative pointed out that the assessee has not filed any return of income as required under section 148 of the Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e meaning of section 271(1)(c) of the Act. Furthermore, the assessment was made on the basis of the material collected from the shops and banks. The assessed income as per the order of this Tribunal is more than the income actually returned by the assessee in all the years. Therefore, the difference between the income returned and income assessed as per the order of this Tribunal has to be considered as concealed income, since the assessee has not filed return of income under section 148 of the Act. The Appellate Commissioner has restricted the penalty to minimum even though the assessing officer levied penalty at 150 per cent. Since the Commissioner of Income-tax (Appeals) has restricted the penalty to the minimum amount prescribed under s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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