Dismissing the appeal of the revenue the Court held that, the assessee has shown the capital gains in revised return prior to issue of notice u/s. 153C of the Act and the Assessing Officer has no-where recorded his satisfaction to the fact that the assessee has concealed the particulars of income or furnished any inaccurate particulars of such income. Accordingly the order of Tribunal is affirmed. Followed CIT v. Suraj Bhan (2007) 294 ITR 481 (P&H) (HC) Pr. CIT v. Neeraj Jindal (2017)393 ITR 1 (Delhi) (HC) (AY. 2010-11)
PCIT v. Prabhjot Kaur Chhabra (Smt.) (2020) 113 taxmann.com 140 (MP) (HC) Editorial : SLP of revenue is dismissed, PCIT v. Prabhjot Kaur Chhabra (Smt.) (2020) 269 Taxman 34 (SC)
S. 271(1)(c) : Penalty-Concealment-Capital gain not shown in original return-Revised return prior to issue of notice u/s. 153C of the Act-Deletion of penalty is held to be justified. [S.45, 133A, 153C]