2022 (8) TMI 747

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.... the case are that the assessee filed its return on 30-09-2013 declaring total income of Rs.6,56,97,090/-. The total income included a sum of Rs.6,44,65,263/- declared by the assessee as additional income during the course of survey u/s.133A of the Act conducted on 25-10-2012. The Assessing Officer (AO) completed the assessment at the returned income and thereafter imposed the penalty u/s.271(1)(c) of the Act amounting to Rs.1,99,19,766/- on the surrendered income. The reason given by the AO was that the assessee disclosed additional income only as a result of the survey carried out u/s.133A of the Act. The penalty came to be deleted in the first appeal. 3. Having heard the rival submissions and gone through the relevant material on reco....

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....ion 271(1) deal with the imposition of penalty under this provision even where the income in the given circumstances is declared in any return of income. The Explanations apply only in the case of search u/s.132 and not the survey u/s.133A of the Act. If the Explanations are excluded from the purview, which are applicable only in search cases and not otherwise, then, addition to income is sine qua non for imposition of penalty u/s.271(1)(c) of the Act. In the absence of any addition or disallowance made by the AO in the computation of total income, there can be no question of any penalty on the income suo motu offered by the assessee in his return of income. 5. The judgment of the Hon'ble Supreme Court in MAK Data Pvt. Ltd. Vs. CIT (2013....