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TMI Blog2024 (6) TMI 1140X X X X Extracts X X X X X X X X Extracts X X X X ..... basis of the assessment order which itself was bad in law since the AO had no power to issue Notice u/s. 148 during the financial year 2020-21 and order passed in pursuant to the said notice is bad in law and hence penalty order is also bad in law. 3. a) On the facts and circumstances of the case and in law, the assessment order passed u/s. 147 is bad in law since order dated 27/03/2022 is digitally signed only on 30/03/2022 & DIN was taken on unsigned order, which is not permitted & hence order is bad in law. b) The penalty order passed u/s. 271(1)(c) on basis of such assessment order is void ab-initio. 4. On the facts and circumstances of the case and in law, the CIT(A) erred in confirming the penalty without considering detailed submission and judgements cited during the appeal proceedings. The order passed by the CIT(A) without considering the merits of the case is bad in law. 5. a) On the facts and circumstances of the case and in law, there is no concealment of Particulars of Income as the full particulars of Income were available before the department in the Form 26AS and AIS. b) The appellant submits that no addition has been made in the Return of Income filed, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ete tax was detected properly , no additional tax was payable by her and therefore no return of income was required to be filed by her. She further stated that on receipt of the notice under section 148 of the act and ongoing that shortfall has arisen on tax liability, immediately paid tax thereon along with interest and filed the return of income which is accepted as it is after the complete scrutiny. Therefore there is neither a concealment of income and nor furnishing of inaccurate particulars of income and therefore the penalty should not be levied under section 271(1)(C) of the act. 05. The learned assessing officer was of the view that as assessee has not filed the return of income under section 139 of the act despite having taxable income and having interest income from various investments, assessee was well aware that she is having interest income which is above the maximum taxable income for filing of return of income therefore, the assessee has not only made default of not filing the return of income but also not paid the due taxes on her total income earned during the year. Thus, The assessee has willfully evaded the tax by choosing not filing of return of income. Had t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce dated 27/3/2022 the learned assessing officer has mentioned that assessee has concealed the particulars of income. In penalty order in paragraph number 5.2 the AO has invoked both limbs. Whereas in paragraph number eight of the order the AO was satisfied that assessee has furnished inaccurate particulars of income. He submits that the learned CIT - A has confirmed the addition on the decision of the honourable Supreme Court in case of MaK data. 08. He submits that all the details are available with the assessing officer as all the details are exhibited in form number 26 AES there is no error in the income stated in that form. He submitted that inadvertently as the deduct has not deducted proper tax the notice was issued to the assessee. He referred to the provisions of section 115G of the act which provides that return of income is not required to be filed in case of non-resident under section 139 (1) of the act if the income is consisting only of investment income and also tax deductible at source has been deducted from such income. He states that tax has been deducted on the interest income but at the lesser rate that is tax is required to be deducted at 12.5% but has been de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me. On the examination of the return of income it was found that assessee has income on which lesser tax has been deducted. Had the revenue not invoke the provisions of reopening of the assessment, this income would have gone taxed at a lower rate and therefore the penalty has rightly been levied for furnishing inaccurate particulars of income. 010. We have carefully considered the rival contention and perused the orders of the lower authorities. In this case there is no dispute that assessee has earned income from one party on which tax is deductible at source under section 195 of the act. The payer of the interest has deducted tax at the source at the rate of 10% instead of 12.5%. The assessee as soon as the notice under section 148 was received immediately offered the same income and also paid the balance tax due. Special provisions relating to certain income of non-resident as provided under Chapter XII A of the act is applicable to the assessee. According to provisions of section 115G non-resident assessee is not required to file her return of income under section 139 (1) if total income in respect of which she is assessable under this act during the previous year consisted o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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