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TMI Blog2022 (9) TMI 838X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee offered the rental income only after the statutory proceedings were initiated by the department. The levy of penalty u/s. 271(1)(c) for filing inaccurate particulars of income does not arise when the assessee filed a Revised Return offering to tax the rental income. In our considered view, the penalty levied u/s. 271(1)(c) is hereby deleted. Appeal filed by the Assessee is allowed. - ITA No. 111/Rjt/2019 - - - Dated:- 16-9-2022 - Ms. Annapurna Gupta, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member For the Appellant : Written Submission For the Respondent : Shri B.D. Gupta, Sr.D.R. ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER: - The present appeal has been filed by the Assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2 Thus the contention raised by the appellant as per his ground of appeal that adequate opportunity of being heard was not given to him by the AO during the course of assessment proceedings and penalty proceedings is not found to be acceptable. Again at appellate stage also the appellant has made any submission on merit. Considering these facts it is held that the appellant has failed to file any justification either before the AO during the course of penalty proceedings or at appellate stage before me for not levying penalty u/s 271(l)(c) and therefore it is held that the AO has correctly the penalty of Rs. 70,551/- u/s 271(l)(c) of the Act such penalty is hereby confirmed. Thus the grounds of appeal of the appellant are dismissed. 4. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cribed needs cancellation. 9. Taking into consideration the legal position, statutory aspects and facts of the case no penalty ought to have been levied. The same deserves cancellation. 4.1. None appeared on behalf of the assessee but written submission was filed on behalf of the assessee. Penalty cannot be levied in respect of deduction claimed but rejected by the Assessing Officer, relying upon Hon ble Supreme Court judgment in the case of Reliance Petro Products reported in 322 ITR 158. Therefore the penalty is liable to be deleted. 5. Per contra, the ld. D.R. appearing for the Revenue supported the orders of the Lower Authorities. 6. We have given a thoughtful consideration and perused the materials available on record. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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