{"id":52948,"date":"2025-04-15T21:57:19","date_gmt":"2025-04-15T16:27:19","guid":{"rendered":"https:\/\/itatonline.org\/digest\/r-revathy-v-acit-2024470-itr-56-160-taxmann-com-464-mad-hc\/"},"modified":"2025-04-15T21:57:19","modified_gmt":"2025-04-15T16:27:19","slug":"r-revathy-v-acit-2024470-itr-56-160-taxmann-com-464-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/r-revathy-v-acit-2024470-itr-56-160-taxmann-com-464-mad-hc\/","title":{"rendered":"R. Revathy v. ACIT (2024)470 ITR 56 \/ 160 taxmann.com 464 (Mad) (HC)"},"content":{"rendered":"<p><strong><br \/><\/strong>Petitioner had declared 101442.5 gms. of gold under VDI Scheme, 1997. During search operation in petitioner&#8217;s son&#8217;s residence, 2034.1 gms. of gold found was claimed to be out of 101442.5 gms. declared by petitioner in Assessing Officer imposed penalty under section 271(1)(c). Commissioner (Appeals) deleted penalty holding that Gold jewellery was received by assessee during her marriage could not be ruled out and, therefore, no concealment was established beyond doubt.\u00a0 Tribunal being of view that assessee had not discharged her burden of explaining source with plausible evidence confirmed penalty levied by Assessing Officer.\u00a0 High Court held that one more opportunity could be given to assessee to go before Assessing Officer to re-do reconciliation by affording an explanation.The Assessing Officer passed a consequential order deleting penalty. PCIT\u00a0\u00a0 initiated proceedings under section 263 to impose penalty. The assessee filed\u00a0 writ petition and\u00a0 submitted that there was a merger of order passed by Asstt. Commissioner AO and, therefore, there was no scope for invoking section 263 to revise assessment.\u00a0 High Court merely gave a fresh opportunity to assessee to explain case afresh. Assessing Officer had passed a consequential order stating that case does not attract penalty since additional income towards investment in jewellery was offered only to purchase peace with department. Since there was no merger of order of AO with CIT(A), no case was made out for interfering with order passed by PCIT, petition is dismissed. (SJ) (AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner-Revision of orders prejudicial to revenue-Penalty-Concealment-Doctrine of merger-No merger-Revision order is affirmed-VDI Scheme, 1997. [S. 271(1)(c), 274]<\/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":[21],"tags":[],"class_list":["post-52948","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dM0","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52948","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=52948"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52948\/revisions"}],"predecessor-version":[{"id":52949,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52948\/revisions\/52949"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}