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| The Tax Publishers2021 TaxPub(DT) 0182 (Chd-Trib) INCOME TAX ACT, 1961
Section 271(1)(c)
Since the facts involved in the case of the assessee and Neelu Garg v. ITO ITA No. 1472/Chd/2018 : 2019 TaxPub(DT) 2987 (Chd-Trib) were similar, so respectfully following the same, the penalty under section 271(1)(c) levied by AO and sustained by CIT(A) was deleted.
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Penalty under section 271(1)(c) - Furnishing of inaccurate particulars of income - -
Assessee's grievance was regard to sustenance of penalty levied by AO under section 271(1)(c). During the course of hearing, assessee at the very outset stated that the similar issue having identical facts was involved in the case of Sister-in-law of the assessee, the facts are identical in both the cases and the issue was already adjudicated by the ITAT in ITA No. 1472/Chd/2018 vide Order, dt. 26-4-2019. Held: Assessee suo moto surrendered an amount and paid the due tax along with interest thereon much before the Investigation Wing or AO pointed out any discrepancy about the undisclosed or concealed income of the assessee. Since the facts involved in the case of the assessee and Neelu Garg v. ITO ITA No. 1472/Chd/2018 : 2019 TaxPub(DT) 2987 (Chd-Trib) were similar, so following the same, the penalty under section 271(1)(c) levied by AO and sustained by CIT(A) was deleted.
Followed:Rajesh Chawla v. CIT [IT Appeal No. 107 of 2004 IT Appeal No. 108 of 2004 IT Appeal No. 109 of 2004, dt. 22-5-2006] Neelu Garg v. ITO ITA No. 1472/Chd/2018 : 2019 TaxPub(DT) 2987 (Chd-Trib) Ajay Sangari & Co. v. Addl. CIT 2011 TaxPub(DT) 2007 (Chd-Trib).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2014-15
IN THE ITAT, CHANDIGARH BENCH
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