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TMI Blog2023 (11) TMI 849X X X X Extracts X X X X X X X X Extracts X X X X ..... ee cannot be considered with that of the case where the amount added in the finalizing the assessment by the assessing officer and the assessee has not willingly not disclosed. Thus, the charge of providing concealment of income or furnishing of inaccurate particular of income which was done with deliberate, willful or mala fide intention is not seen in this case. As such the same was not shown due bona-fide error which the assessee corrected voluntarily in the assessment proceedings by filling the revised computation of income. Therefore, in this facts and circumstances, it cannot be held that the assessee has concealed his income and liable to penalty under section 271(1)(c) - we also find support and guidance from the judgment of Gujarat State Electricity Corporation Ltd [ 2022 (10) TMI 1052 - GUJARAT HIGH COURT] wherein held that in no penalty can be imposed where the assessee made bona fide mistake and corrected the same on realization of mistake. We find that the assessee under the bona fide belief not offered income on short term capital gain which has been corrected in the assessment proceeding by filling the revised computation of income and the same is not dispu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4/JP/2023 271(1)(c) 1,72,652/- 25 No No Yes 345/JP/2023 271(1)(c) 2,588/- 25 No No No** 346/JP/2023 271(1)(c) 17,688/- 25 No No No@ 347/JP/2023 271(1)(c) 2,862/- 25 No No No# * Addition of short term capital gain of Rs. 9224 ** surrendered house property income of Rs. 25,129/- in the assessment proceeding by filing revised computation of income @ surrendered interest income of Rs. 1,01,430/- in the assessment proceeding by filing revised computation of income and contended that the FDR was renewed and therefore let the attention. # surrendered interest income of Rs. 27,790/- in the assessment proceeding by filing revised computation of income and contended that the FDR was renewed and therefore let the attention. 2. Since the issues ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cts of the case we would like to mention that the assessee has assailed the appeal in ITA No. 336/JP/2023 on the following grounds; 1. The learned CIT(A) has erred in law and on facts in upholding penalty of Rs. 4,738/- levied u/s 271(1)(c) without penalty appreciating the facts of the appellant. 2 . The learned CIT(A) has erred in law and on facts in not considering the submission and the supporting decision relied upon by the assessee and ignoring the fact that return income in response to notice u/s 153A is the assessed income u/s 153A(1)(b). 3. On the facts no such penalty u/s 271(1)(c) ought to have been levied. 4. Appellant crave, leave to add amend, alter, substitute, modify any of the ground of appeal on or before the date of hearing with approval of Hon ble Bench. 7. The fact as culled out from the records is that the appellant filed Income tax return u/s 139 of the Income tax act, 1961 for the assessment year 2012-13 on 30.07.2012 declaring total Income of Rs. 4,56,540/- Thereafter, the appellant filed Income tax return u/s 153A of Income tax Act, 1961 on 27.02.2019 declaring total Income of Rs. 4,84,090/-. Assessment of the same was completed by the Ld. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 71(1)(c) of the Income Tax Act is initiated for concealment of income by way of issue of notice u/s 274 r.w.s. 271(1)(c) of the Act. Penalty notice u/s 274 r.w.s. 271(1)(c) of the Act issued accordingly. After reading the directions given in the assessment order about initiation of penalty for concealment of income there remains no confusion with regard to limb. Intention of the AO is evident from the assessment order itself. Further, in the penalty notice also the AO has clearly mentioned that the penalty is initiated for concealment of particulars of income. There is no defect found in the initiation of penalty or in the penalty notice. Therefore, the argument of the appellant are found to be not acceptable. The facts of the case laws which is relied upon by the appellant are different from the facts of the case of the appellant and hence, the decision is not found to be applicable on the facts of the case. It is argued that return of income filed in response to notice u/s 153A is to be considered as return filed u/s 139. By saying so the appellant is trying to say that on the income offered in the return filed u/s 153A but not offered in the return filed u/s 139, penalty u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the AO has not mentioned any incriminating material found during search in the assessment order while making accepting the returned income of return filed u/s 153A. Therefore, following the judicial precedence the penalty levied by the AO is not sustainable. The AO is accordingly directed to delete the penalty levied u/s 271(1)(c) of Rs. 2,838/- which is only levied on the basis of income offered in the return filed u/s 153A. This ground of the appeal is treated as partly allowed. 8. Feeling dissatisfied from the finding of the ld. CIT(A) confirming the penalty amount in part, the assessee filed the present appeal on the grounds as reiterated herein above. In all these bunch of case notices were issued but none appeared nor filed any adjournment application. Therefore, bench considered to dispose all these bunch of cases based on the facts available on record. 9. As the ld. DR ready with the arguments we have considered the arguments of the ld. DR who has relied upon the order of the ld. CIT(A) and submitted that the proceeding in this case are pursuant to search and the case normal levy of penalty and therefore, he relied upon the contentions raised in the orders ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ile filling the return of income in response to notice u/s. 153A of the Act and even on the small addition made in the assessment proceeding was also pursuant to the revised computation of income filed by the assessee in the assessment proceeding for which the ld. AO did not find any fault and the nature of income added are short term capital gain of minor amount, small amount of rent and interest income on deposit. The assessee has surrendered all these amount for tax by revising the computation of income in the assessment proceeding. This act of the assessee cannot be considered with that of the case where the amount added in the finalizing the assessment by the assessing officer and the assessee has not willingly not disclosed. Thus, the charge of providing concealment of income or furnishing of inaccurate particular of income which was done with deliberate, willful or mala fide intention is not seen in this case. As such the same was not shown due bona-fide error which the assessee corrected voluntarily in the assessment proceedings by filling the revised computation of income. Therefore, in this facts and circumstances, it cannot be held that the assessee has concealed his inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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