AO imposed penalty by taking a view that she had not shown capital gain arising from sale of land in original return and said gain was declared only in return filed pursuant to notice issued under S.153C of the Act. Tribunal held that the assessee had filed a revised return prior to issue of notice under S.153C wherein capital gain in question was duly reflected. High Court affirmed the order of the Tribunal. (AY. 2010-11)
PCIT v. Prabhjot Kaur Chhabra. (2020)113 taxmann.com 140 / 269 Taxman 35 (MP) (HC) Editorial: SLP of revenue is dismissed ; PCIT v. Prabhjot Kaur Chhabra. (2020) 269 Taxman 34 (SC)
S. 271(1)(c) : Penalty- Concealment-Capital gains on sale of land-Revised return prior to issue of notice u/s 153C-Deletion of penalty is held to be justified. [S. 45, 139(3), 153C ]