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2016 (9) TMI 850 - ITAT DELHIPenalty levied u/s. 271(1)(c) - voluntary surrender of income by assessee - Held that:- A.O. has failed to make out the case of concealment of particulars of income or furnishing of inaccurate particulars of such income by the assessee, rather, it was a case of voluntary surrender of income for tax purpose in order to buy peace of mind and to avoid vexed litigation and Ld. CIT(A) has legally and rightly passed the impugned order. Finding no illegality or perversity in the impugned order, we hereby dismiss the present appeal filed by the Revenue - Decided in favour of the assessee
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