Assessee filed a return showing a loss, which was accepted.   The Assessing Officer initiated penalty proceedings for furnishing inaccurate particulars of income based on original return filed under section 139(1).Assessee contended that  that since revised return was accepted under section 153A, penalty based on previous return filed under section 139 was not maintainable and that Explanation 5A of section 271(1)(c) did not apply. Penalty was levied without granting  a personal hearing.   However, authorities did not consider contentions fully and passed penalty orders without granting personal hearing. On writ the court held that   there was no complete deprival of principles of natural justice, inasmuch as, while initiating penalty proceedings, respondent authorities had invited reply from assessee to show cause notices issued, however had not considered crucial and important pleas and contentions raised by assessee before passing impugned penalty orders, thereby amounting to negation of principles of natural justice.  Though in reply notice, assessee sought for personal hearing, same was not accorded to assessee. The  conduct of respondents would depict a partial violation of principles of natural justice and, therefore, penalty orders were to be set aside and authorities were to be directed to give assessee a personal hearing and pass fresh orders after considering their contentions.