2014 (8) TMI 1093

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....rg (Judicial Member) The present appeal has been preferred by the Revenue against the order of the Commissioner of Income Tax (Appeals)-8, Mumbai ('CIT(A)' for short) dated 19.02.2011. 2. The Revenue through its grounds has agitated the action of the ld. CIT(A) in deleting the penalty levied by the Assessing Officer (A.O.) u/s.271(1)(c) of the Income Tax Act, 1961 ('the Act' hereinafter) in ....

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....for the purpose of concealment of any income. It was further submitted that the A.O. did not detect any concealment of income. The details relating to the disallowance u/s.94(7) were sought by the A.O. in ordinary course of hearing and when the assessee realized his bona fide error, he immediately brought the said error into the notice of the A.O. and voluntarily offered the said disallowance for ....

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....ppellant did not agitate this addition. Considering the facts, circumstances and the attitude of the Appellant it is not a fit a case for concealment penalty. Thus the penalty levied on this issue is deleted.' 3. We have heard the ld. Representatives of the parties and have also gone through the record. The ld. CIT(A) after going through the explanation submitted by the assessee has observed th....