TaxTMI 
TaxTMI 
2024 (5) TMI 298
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....h in turn arose from the separate penalty orders passed u/s 271(1)(c) of the Act, for the assessment years 2014-15 and 2016-17. 2. Since in both appeals, the assessee is challenging the levy of penalty under section 271(1)(c) of the Act, which arises out of a similar factual matrix, therefore these appeals were heard together and are being decided by way of this consolidated order. ITA No.3928/Mum./2023 Assessee's appeal- A.Y. 2014-15 3. The only grievance of the assessee, in the present appeal, is against the levy of penalty under section 271(1)(c) of the Act. 4. The brief facts of the case as emanating from the record are: For the year under consideration, the assessee filed his return of income 26.07.2014 decla....
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....g the original return of income claimed an incorrect deduction u/s 80GGA of the Act in order to reduce his taxable income. It was further held that it was only after an investigation was carried out by the Department which revealed that Navjeevan Charitable Trust, to whom a donation of Rs. 6 lakh was made by the assessee, was involved in providing bogus accommodation entries the assessee offered to not claim deduction u/s 80GGA of the Act while filing its return in response to the notice issued u/s 148 of the Act. The AO held that if notice u/s 148 of the Act had not been issued, the income would have escaped assessment to the extent of bogus donation paid, and thus it is clear that the assessee has concealed the true particulars of his inc....
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....A issued by the Navjeevan Charitable Trust. Since the Navjeevan Charitable Trust was an eligible trust u/s 35AC of the Act, at the time of donation, the assessee claimed deduction u/s 80GGA of the Act in respect of donation made while filing its original return of income for the year under consideration on 26.07.2014. As per the assessee, he suo-moto offered the sum of Rs. 6 lakh claimed as deduction u/s 80GGA of the Act to tax and paid a sum of Rs. 2,10,000/- towards the income-tax liability on 16.05.2015. In this regard, the assessee has furnished the income tax payment challan dated 16.05.2015 and Form 26AS with respect to the payment of income tax liability of Rs. 2,10,000/-. The assessee has also placed on record his letter filed befor....
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....oluntarily offered the deduction claimed u/s 80GGA of the Act to income tax much before the initiation of proceeding u/s 147 of the Act which resulted in the impugned penalty, we are of the considered view that there is no concealment of income on the part of the assessee justifying levy of penalty u/s 271(1)(c) of the Act. Hence, we delete the penalty levied u/s 271(1)(c) of the Act. As a result, the grounds raised by the assessee are allowed. 11. In the result, the appeal by the assessee for the assessment year 2014-15 is allowed. ITA No.3929/Mum./2023 Assessee's appeal- A.Y. 2016-17 12. In this appeal also the only dispute is against the levy of penalty u/s 271(1)(c) of the Act. 13. We have considered the submission of bot....