Held that the assessee had filed information in the return of income concerning remuneration and interest on capital received from the firm as a partner. This fact was disclosed by the assessee in its original return of income and the original return of income was processed u/s. 143(1) but the assessee claimed these two items, i.e. remuneration and interest on capital receipt from the firm on a presumptive basis u/s. 44AD and declared a net profit of eight percent. The assessee could not make such a claim and this was not allowable. But all the facts relating to these two claims were available before the AO and even the AO processed the original return and accepted the claim, which may be wrong. The assessee had disclosed the complete particulars of income relating to remuneration received from the firm and interest on capital invested with the firm. Once a fact, it meant that there was no issue as regards concealment of particulars of income. Hence not a fit case for a levy of penalty u/s. 271(1)(c). (AY. 2016-17)