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TMI Blog2014 (1) TMI 805X X X X Extracts X X X X X X X X Extracts X X X X ..... e of 1.21 crores to avoid unnecessary controversy in the matter - The Tribunal came to a finding that the imposition of penalty was bad in law - Decided against Revenue. - ITA.No. 145 of 2013 - - - Dated:- 11-11-2013 - Dr Manjula Chellur And A M Shaffique, JJ. For the Appellant : Sri P K R Menon, Sr Counsel, Sri Jose Joseph, SC, Income Tax JUDGEMENT:- PER : Shaffique, J The appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12,26,000/-. 4. Assessee filed an appeal before the Commissioner of Income Tax (Appeal) against the order of penalty. The appeal was allowed on the ground that there is no violation of S. 271AAA. The revenue preferred further appeal before the Tribunal and the appeal came to be dismissed. 5. While impugning the order passed by the Tribunal, it is inter alia contended that the Tribunal was not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment that to avoid protracted litigations, they have offered to file return of income for the assessment year 2008-2009 by declaring income of Rs. 2 crores more than the income return for the assessment year 2007-2008 and nothing was un- earthed as undisclosed income as a result of search and since the assessee had remitted Rs. 1.21 crores to cover any possible omissions and commissions, there was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ifference between the disclosed income and the assessment was very meagre. There was no material to indiciate that the assessee has not disclosed the proper income. Whereas in this case the assessee had offered to show an additional income of 1.21 crores to avoid unnecessary controversy in the matter. It is under these circumstances that the Tribunal came to a finding that the imposition of penalt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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