2011 (9) TMI 1021

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....e is directed against the order of 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,....

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.... the Act. The assessing officer accepted 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 Rs. 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. ....