The assessee failed to file an original return u/s 139(1) of the Act. However, the assessee voluntarily computed the income, paid the tax along with interest and intimated the same to the AO by filing a letter. Subsequently, the AO issued a notice u/s 148 of the Act. In response, the assessee filed a return of income showing the same income which was disclosed by her in the letter voluntarily filed. The AO accepted the return but levied the penalty u/s 271(1)(c) of the Act.  On appeal the Tribunal held the  the AO did not make any addition but accepted the returned income of assessee and held that in the absence of any addition/disallowance resulting in enhancement of taxable income, no penalty u/s 271(1)(c) of the Act is leviable. The ITAT further observed that the AO initiated penalty u/s 271(1)(c) on the reason that the assessee had not filed return of income u/s 139(1) of the Act and held that the penalty u/s 271(1)(c) could be levied either for furnishing inaccurate particulars of income or concealing the income. The ITAT observed that the penalty u/s 271(1)(c) cannot be invoked for not filing the original return u/s 139(1). On the aforesaid observations, the ITAT deleted the penalty and allowed the appeal of the assessee. [ITA No. 201/ Mum/2023 dt. 15/05/2023 (Mum)(Trib.).