TMI Blog2019 (3) TMI 206X X X X Extracts X X X X X X X X Extracts X X X X ..... l not lead to the conclusion that the assessee has concealed its particular of income as the concealment, as we discussed, means something more with the malafide intention coupled with mens rea. Tribunal was right in holding that penalty u/s 271(1)(c) can not be levied in a case where the assessee filed its return under VDIS but failed to pay the tax. No substantial question of law. - Tax Case (Appeal) No.410 of 2011 - - - Dated:- 30-1-2019 - Mr. Justice T.S. Sivagnanam And Mr. Justice N. Sathish Kumar For the Appellant : Mr.D.Prabhu Mukunth Arunkumar, Standing Counsel For the Respondent : Mr.R.Venkatanarayanan for M/s.Subbaraya Aiyar Padmanabhan Ramamani JUDGMENT T.S.SIVAGNANAM, J. This appeal, by the Revenue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the VDIS, 1997. It was further held that the assessee knowing fully well that the declaration under the VDIS, 1997 was not accepted by the Commissioner of Income Tax, the assessee had falsely claimed that the income was already offered under the VDIS,1997 and suffered tax and reduced the same from the total income. Regarding this finding, maximum penalty was imposed on the assessee. 6.The assessee filed appeal before the Commissioner of Income Tax (Appeals)-IX (for brevity the CIT(A) ). The assessee offered an explanation as to why they had not initially disclosed the amount mentioned in the VDIS application. The Commissioner examined the explanation given by the assessee for its correctness and found the same to be acceptable and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Had the VDIS complied with the payment of tax, etc. the question of levy of penalty would not have been agitated. Admittedly the tax has not been paid by the assessees on the income declared under VDIS. This itself will not lead to the conclusion that the assessee has concealed its particular of income as the concealment, as we discussed, means something more with the malafide intention coupled with mens rea............ 8.We have gone through the order passed by the Tribunal and also the reasons given by the Tribunal as to how the Tribunal found that the explanation offered by the assessee was acceptable and how the conduct was not contumacious or malicious. Thus, we cannot re-examine the factual finding recorded by the CIT(A) and the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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