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2019 (6) TMI 434

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..... issued by the Revenue and in the said document the interest portion has been shown as ‘not applicable’. If the department itself has not given a proper quantification, it will not be appropriate on part of the Revenue to take a plea that the assessee filed inaccurate particulars of income. In fact the assessee has offered the refund amount to the tax authorities. Therefore, the Assess .....

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..... acts and in the circumstances of the case, the learned CIT (Appeals) has erred in confirming the penalty u/s 271(1)(c) of the Income Tax Act, 1961 in respect of interest on income tax refunds not received by the appellant. 3. That on the facts of the case, the learned CIT (Appeals) has erred in stating in Para-4 of the order that "In the result, the appeal is dismissed" whereas the appea .....

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..... nalty notice was issued on 09.01.2015. The Assessing Officer u/s 271(1)(c) has imposed penalty of ₹ 3,53,210/- in respect of furnishing of inaccurate particulars of income to the extent of ₹ 9,56,835/- which was relating to interest received on income tax refund but not offered for tax. 4. Being aggrieved by the penalty order, the assessee filed appeal before the CIT(A) and the CIT(A) .....

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..... to which particulars are not being filed accurately. Form 26AS is the document issued by the Revenue and in the said document the interest portion has been shown as not applicable . If the department itself has not given a proper quantification, it will not be appropriate on part of the Revenue to take a plea that the assessee filed inaccurate particulars of income. In fact the assessee has offer .....

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