2019 (1) TMI 543

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....ssessment year 2008-09. 2. The Revenue has filed these appeals raising the following substantial questions of law : "i. Whether the Appellate Tribunal is correct in deleting the penalty levied under Section 271(1)(c) without considering that the assessee filed the revised return of income only after the survey action under Section 133A taken place in the premises of the purchaser ? ii. Whether the Appellate Tribunal was right in holding that the assessee had not concealed the particulars of his income or deliberately furnished inaccurate particulars in the original return of income, which was filed with NIL income, when the sale of immovable property, which attracted capital gains tax under the provisions of the Income ....

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....ax Officer, Ward-II(5), which was received on 15.9.2011 by the assessee. The dispatch was done by the Dispatch Clerk only on 13.9.2011. The appellant has filed the revised return before the ACIT, Circle II, Coimbatore, on 13.9.2011 and has paid all the taxes on 12.9.2011. The Assessing Officer concluded that the assessee has filed his return hastily, that too, with the office of the ACIT, Circle II, Coimbatore once he came to know that action has been initiated against him under the Sections of the Income Tax Act. The facts do not support the view of the Assessing Officer that filing of the return by the appellant was only after the deduction of the concealment by the Department. As seen from the evidences, the assessee filed the r....