Tribunal held that\u00a0 that both the two previous years had ended before the date of search. In the returns filed in response to the notice under S. \u00a0153A\u00a0the assessee claimed that additional income had been received by him and the income was not declared by him in the returns filed before the date of search. Therefore the provisions of Explanation 5A to S. \u00a0271(1)(c)\u00a0were applicable on account of concealment of particulars of his income or furnishing of inaccurate particulars of income because all the conditions laid down in Explanation 5A were met and the deeming provisions of S. \u00a0271(1)(c)\u00a0were clearly applicable to the assessee. The assessee had concealed particulars of his income to the extent of additional income received by him. The assessee could not bring any cogent material to controvert the findings of the authorities. Accordingly, the penalty was justified for the assessment years 2010-11 and 2011-12.<\/p>\n
The AO for the AYs 2012-13 to 2015-16 initiated penalty proceedings under S. \u00a0271(1)(c)\u00a0on the differential amount disclosed in the return filed under S. \u00a0153A\u00a0by the assessee without mentioning either of the two limbs as provided under the provisions of S.271(1)(c), i. e., for concealment of particulars of income or for furnishing of inaccurate particulars of such income. In the penalty order also he used both the expressions. The CIT(A) \u00a0confirmed the penalty. On appeal the Tribunal held that\u00a0 the AO was \u00a0not sure on which count he intended to levy penalty under the provisions of S. \u00a0271(1)(c)\u00a0either for concealment of particulars of income or for furnishing of inaccurate particulars of such income. These two situations were contradictory to each other. Neither the assessment order nor the penalty order stated the specific charge of concealment or furnishing of inaccurate particulars of income. In all the cases, both the returned income and the assessed income was the same. Therefore, when the revised return was accepted and the income was assessed as per the revised return, there was no scope for penalty. The penalty levied by the AO\u00a0 which is confirmed by the CIT(A) is held to be not valid.\u00a0 (AY.2010-11 to 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271(1)(c) : Penalty\u2013Concealment-Receipt of additional income not disclosed prior to search-Levy of penalty is justified\u2013AO not sure on which count he intends to levy penalty-Two situations contradictory to each other-Returned and assessed income the Same and revised income accepted-Levy of penalty is not justified. [S. 132, 153A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11060","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2So","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=11060"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11060\/revisions"}],"predecessor-version":[{"id":11061,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11060\/revisions\/11061"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=11060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=11060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=11060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}