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TMI Blog2014 (8) TMI 61X X X X Extracts X X X X X X X X Extracts X X X X ..... iable for capital gains tax - There has been no concealment or deliberate Act on the part of the assessee in furnishing inaccurate particulars of income, warranting imposing of penalty u/s 271(1)(c) of the Act - relying upon CIT Vs Harnarain [2011 (10) TMI 14 - DELHI HIGH COURT] - no penalty can be imposed, if the assessee surrenders his income voluntarily even after receipts of questionnaire, in absence of detection or information of concealment by the Revenue - the order of the CIT(A) has correct and in accordance with law and no interference is called for law – Decided against Revenue. - ITA No. 1542/Del/2013 - - - Dated:- 25-7-2014 - Sh. George George K., JM And Sh. B. C. Meena, AM,JJ. For the Petitioner : Sh. R. B. Arora, Adv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income even during assessment proceedings. As per Delhi High Court s recent decision in 30/10/2011, in the case of CIT Vs Harnari, no penalty can be imposed, if appellant surrenders his income voluntarity even after receipt of questionare, in the absence of detection or information in the position of revenue. This is confirmed by A.O in his penalty order page no. 1/Para- 2. Therefore, the penalty of such a big amount to a salaried employee will be harsh. 4. The Revenue being aggrieved is an appeal before us. The ld. DR supported the order of the Income Tax Officer, Ward 44(3), New Delhi, imposing penalty u/s 271(1)(c) of the Act. The ld. Authorized Representative on the other hand, reiterated the submissions made before the Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 31.10.2011 and held that no penalty can be imposed, if the assessee surrenders his income voluntarily even after receipts of questionnaire, in absence of detection or information of concealment by the Revenue. The relevant findings of the Hon ble Jurisdictional High Court in the case of CIT Vs Harnarain (supra) reads as follows:- 9. In K. C. Builders Vs ACIT, (2004) 265 ITR 562, the Hon ble Supreme Court observed that word concealment requires there to be a deliberate act on the part of the assessee, and the concealment inherently carries with it the element of mens rea. It was further observed that a mere omission from return of any item of receipt does neither amount to concealment nor deliberate furnishing of inaccurate particu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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