Held that since the Revenue has accepted the income declared by assessee without any adjustment, assessee is not liable for penalty under s. 271(1)(c) even though he had declared lesser income in the original return by claiming erroneous deductions under chapter VI-A. Followed CIT v. Pushpendra Surana (2013) 96 DTR 231. (2014) 264 CTR 204 (Raj)(HC) Cheldas Khushalas Patel & Ors. vs. CIT (1992) 103 CTR 1 / 196 ITR 200 (Gul)(HC). Distinguished Mak Data (P) Ltd, v. CIT (2013) 94 DTR 379/ 263 CTR1 (SC). (AY. 2012-13 to 2016-17)
Ajoy Sharma v. Dy.CIT (2024) 232 TTJ 81 (UO) (Jaipur)(Trib)
S. 271(1)(c) : Penalty-Concealment-Deductions under sections 80C, 80CCF, 80D, 80DD and 80G ST and loss under the head Income from House Property-Return was filed after time-limit prescribed under s. 139(4) and was invalid return-Re assessment notice-Returned income and assessed income is same-Penalty is deleted.[S.139(4), 147, 148]