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TMI Blog2015 (9) TMI 1101X X X X Extracts X X X X X X X X Extracts X X X X ..... 1(1)(c) of the Income Tax Act because concealment of income starts only after the return of income was filed or subsequent to filing of belated return of income when the Department detects certain income as escaped. - Decided against revenue. - I.T.A.No.2183/Mds. /2014 - - - Dated:- 10-6-2015 - SHRI N.R.S.GANESAN AND SHRI A.MOHAN ALANKAMONY, JJ. For The Appellant : Mr.N.Madhavan, JCIT D.R For The Respondent : Mr.R.Vijayaraghavan,Advocate ORDER PER A.MOHAN ALANKAMONY , ACCOUNTANT MEMBER: This appeal is filed by the Revenue, aggrieved by the order of the Learned Commissioner of Income Tax(A)-VI, Chennai dated 30.03.2014 in ITA No.384/13-14 passed under Sec.271(1)(c) read with section Sec. 250 of the Act. 2. The Rev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment year 2008-09 and paid the taxes thereon. 4. The Ld. Assessing Officer while passing the order initiated penalty proceedings under Sec. 271(1)(c) of the Act. Subsequently the Ld.A.O in the penalty proceedings levied penalty for ₹ 9,62,094/- by observing as under:- In response to the notice issued, the assessee has filed a reply, dated 26.01.2011and 09.06.2011 requesting to drop the penalty proceedings, since, the Assessing Officer did not make any additions, there is no concealment of income and he has co-operated with the department by agreeing the additions made and paid the taxes due. The reasons explained by the assessee through the letter could not be considered and the statement that the assessee did not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected by the Assessing Officer which were not recorded in the books of accounts. The department arrived at the figure of the income of the appellant during the A.Y under consideration on the basis of the entries recorded in the books of accounts. Further, the explanation 3 to section 271(1)(c) applies only in respect of the cases wherein the return was filed after the expiry of the time limit as per Section.153 of the IT Act. Even the appellant s case is not covered under explanation 3 to section 271(1)(c) of the Income Tax Act. The concealment starts only after the return of income was filed or after the due date of filing belated return expired and the department detected material fact after the happening of any of the events as discussed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d reported in (2011) 012 ITR (Trib) 0581 held that penalty is not leviable in a case where no clear finding in the penalty order whether addition on account of concealment of income or furnishing of inaccurate particulars of income even in the case of offer of additional income on account of omissions/mistakes and missing vouchers during the survey action. Respectfully following the ratio of the decisions of various High Courts (surpa) and ITAT (Supra), I am of the considered view that no penalty is leviable section 271(1)(c) of the Income Tax Act on the facts of the case. Hence Assessing Officer is directed to delete the penalty levied of ₹ 9,62,094/-. 6. Ld. A.R. submitted before us that the assessee had not concealed its incom ..... X X X X Extracts X X X X X X X X Extracts X X X X
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