2011 (6) TMI 787

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..... T(A)-IV, Ahmedabad dated 17-03-2009 and pertains to assessment year 2005-06. 2. The assessee filed return of income declaring income of ₹ 21,41,890 including undisclosed income of ₹ 20,55,000. On the basis of the undisclosed income disclosed in the return filed u/s 153A, the assessing officer initiated the penalty proceedings u/s 271(1)(c) of the Act. 3. The ld.departmental repre .....

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..... sing officer. Therefore, there is no question of levy of any penalty. On identical set of facts, this Tribunal in assessee s own case for assessment year 2001-02 confirmed similar order of CIT(A). The ld.representative for the assessee filed a copy of the order dated 27-05-2011 passed by the Tribunal in ITA No.68/Rjt/2009. The ld representative again submitted that on identical set of facts, the K .....

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..... ssued u/s 153A of the Act. Once the assessee has filed the return of income consequent to the notice issued u/s 153A of the Act all pending proceedings for those assessment years shall stand abated and therefore, the income has to be computed only on the basis of the return of income filed by the assessee in response to notice issued u/s 153A of the Act. Admittedly, the assessee has disclosed the .....

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