2023 (3) TMI 1095

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....nt : Sh. Surinder Mahajan, CA For the Respondent : Sh. Ravinder Mittal, Sr. DR Date of Pronouncement : 02.03.2023 ORDER Per Dr. M. L. Meena, AM: The present appeal has been filed by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals)-1, Jalandhar dated 21.10.2019, challenging the penalty levied u/s 271(1)(c) in respect of Assessment Year 2016-17 2. At the outse....

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....ating the fact that return income has been accepted as assessed income by the AO. The ld. counsel further submitted that the assessee has surrendered an additional income which was offered to tax during the survey operation on 23.02.2016 with the caveat that no penal action (APB pg. 5). The counsel has relied on the judgment of Hon'ble Punjab & Haryana High Court in the case of CIT v. Smt. Suders....

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....r: "5. The judgment of the Hon'ble Supreme Court in MAK Data Pvt. Ltd. vs. CIT (2013) 358 ITR 593 (SC) does not come to the rescue of the Revenue. The assessee in that case filed his return on 27-10-2004 declaring income of Rs.16.17 lakh. Prior to that, a survey action was taken against the assessee on 16-12-2003. No income was offered during the course of survey and as such nothing was incl....

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.... of income was lower than the income finally assessed by the AO, that the Hon'ble Supreme Court held that the penalty was rightly leviable." 5. In the present case, since the AO has not noticed any difference between in the return income and the assessed income, the citations relied upon by the department are not applicable to the facts of the instant case as income under consideration formi....