2019 (1) TMI 800

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....aria i/by Purnanand & Co ORDER P.C.: 1. Revenue is in the appeal against the Judgment of the Income Tax Appellate Tribunal ("the Tribunal" for short) dated 26.6.2015 raising following questions for our consideration:- "(A) Whether on the facts and in the circumstances of the case and in law, the Tribunal is justified in upholding the order of CIT(A) in deleting the penalty under ....

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....he assessee were unearthed by Assessing Officer in course of assessment proceedings?" 2. The issue pertains to penalty imposed by the Assessing Officer under Section 271(1)(c) of the Income Tax Act, 1961 ("the Act" for short). The Commissioner (Appeals) and the Tribunal deleted such penalty upon which the Revenue has filed this appeal. 3. Certain additions having been sustained in the hands ....

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....d counsel of the Revenue that merely because the assessee surrenders certain income during assessment which is contrary to the claim in the return filed, he automatically gets immunity from penalty. In the decision in the case of MAK Data P Ltd (supra), the Supreme Court held that the assessee's contention that the income was offered to tax to by peace by itself would not be an immunity from p....