https://www.taxtmi.com/caselaws?id=754533 Penalty under section 271(1)(c) was treated as unwarranted where the non-resident assessee had not filed a return on the bona fide belief that tax had been duly deducted at source, the income was already reflected in Form 26AS and departmental records, and the short deduction was caused by the deductor's error. The assessee promptly offered the income and paid the balance tax and interest after notice under section 148, which negated concealment and furnishing of inaccurate particulars. The discussion also distinguishes Mak Data on the basis that this was not a case of voluntary surrender after detection of concealment, but of regularisation of a bona fide mistake. The penalty was therefore not sustainable. en-us Fri, 21 Jun 2024 00:00:00 +0530 Wed, 26 Jun 2024 08:30:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754533 Penalty under section 271(1)(c) was treated as unwarranted where the non-resident assessee had not filed a return on the bona fide belief that tax had been duly deducted at source, the income was already reflected in Form 26AS and departmental records, and the short deduction was caused by the deductor's error. The assessee promptly offered the income and paid the balance tax and interest after notice under section 148, which negated concealment and furnishing of inaccurate particulars. The discussion also distinguishes Mak Data on the basis that this was not a case of voluntary surrender after detection of concealment, but of regularisation of a bona fide mistake. The penalty was therefore not sustainable. Case-Laws Income Tax Fri, 21 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754533