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TMI Blog2012 (11) TMI 1271X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri T.Shankar Sr.D.R. ORDER Shri Mukul Kr. Shrawat, All these appeals of the Revenue have identical issue pertaining to the deletion of penalty levied u/s.271(1)(c) by CIT(A)-II, Ahmedabad dated 04/03/2010 by respective three orders all dated 4.3.2010. Since the issue involved is identical, therefore these appeals are consolidated and hereby decided by a comm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 75,73,890/- 75,73,890/- 2.1. Before the AO, it was contested that the disclosure was in respect of the group totalling to ₹ 2.25 crores and respectively it was declared in each hand. The disclosed amount was made at the time of search which was thereafter suo motu taxed as per the return. Hence the preliminary contention was that the disclosed a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iii) while filing the Return of Income, the appellant had already included the above disclosed income in his Return of Income and had also paid due tax with interests thereon before filing the Return of Income for the concerned Assessment Year 2007-08. There is no addition made in the appellant s case by the Assessing Officer and that since the appellant had already paid due tax and intere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure during the search itself. The same amount was offered in the return of income filed and also the tax was paid before filing the return of income. Hence, all the conditions are satisfied under clause (2) of Explanation 5 to Section 271(1)(c) of the I.T.Act. Hence, the appellant is entitled for exemption/immunity and penalty is nto leviable under Explanation 5 to Section 271(1)(c) of the I.T.Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d fulfilled all the conditions for availing the benefit of immunity against levy of penalty as prescribed under Explanation-5 to section 271(1)(c) of IT Act. We therefore hold that the cancellation of penalty by ld.CIT(A) was a correct view, hence the same is hereby approved. Ground(s) raised in this regard by the Revenue Department is hereby dismissed. 6. In the result, all the three ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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