2011 (9) TMI 1021

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....CIT(A)-IV, Ahmedabad dated 31-08-2010 pertaining to assessment year 2006-07 whereby the CIT(A) deleted the penalty levied u/s 271(1)(c) of the Act. 2. At the outset, the ld.AR submitted that the assessee disclosed the entire income in the return filed in response to notice issued u/s 153A of the Act and no addition was made by the assessing officer. Therefore, there is no question of levy of any ....

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....d the return filed by assessee without any further addition. The assessing officer initiated penalty proceedings u/s 271(1)(c) of the Act on the ground that the assessee himself has disclosed undisclosed income of ₹ 45,00,000. The fact remains that the undisclosed income is disclosed in the return filed in response to the notice issued u/s 153A of the Act. Once the assessee has filed the ret....