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TMI Blog2019 (3) TMI 206X X X X Extracts X X X X X X X X Extracts X X X X ..... nkatanarayanan for M/s.Subbaraya Aiyar Padmanabhan & Ramamani JUDGMENT T.S.SIVAGNANAM, J. This appeal, by the Revenue filed under Section 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), is directed against the order passed by the Income-tax Appellate Tribunal, Chennai, Bench 'A' (for brevity "the Tribunal"), in I.T.A.No.1465/Mds/2003, dated 26.05.2006, for the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had mentioned the income admitted in the invalid declaration filed under the Voluntary Disclosure Scheme, 1997 (hereinafter referred to as "the VDIS, 1997") in the return of income filed, cannot absolve the assessee from penal consequences. Further, it was held that after admitting the income in the return, the very same income was reduced from the total income claiming that the same was already ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the penalty. 7.The correctness of the order passed by the CIT(A) was challenged by the Revenue before the Tribunal. The Tribunal once again analysed the factual position, that is, the explanation offered by the assessee, the conduct of the assessee and dismissed the appeal filed by the Revenue. At this juncture, it would be useful to refer to paragraph nos.15 and 16 of the order passed by the T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tial declaration was made by the assessees under VDIS. The proof for payment of advance tax within the allowable time is not dispute. Till that stage, the Department was absolutely unaware of the fact that the assessees having earned any such income. Had the VDIS complied with the payment of tax, etc. the question of levy of penalty would not have been agitated. Admittedly the tax has not been pai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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