Case Law Details
In the present case also the income returned by the assessee under section 153A of the Act has been accepted by the assessing officer and once the assessing officer accepts the revised return filed under section 153A of the Act, the original return under section 139 of the Act abates and becomes non-est. Therefore, in view of the ratio laid down by the Hon’ble Jurisdictional High Court, the concealment has to be seen with reference to the return which has been filed by the assessee for the purpose of levying penalty under section 271(1)(c) of the Act, what has to be seen is whether there is any concealment in the return filed by the assessee under section 153A and not vis-à-vis the original return filed under section 139 of the Act. In the present case, the same income has been accepted which was returned by the assessee, therefore, the penalty under section 271(1)(c) of the Act was not leviable.
Full Text of the ITAT Order is as follows:-
These appeals by the department are directed against the separate orders each dated 7-9-2016 of learned Commissioner (Appeals)-XXVI, New Delhi.
2. Since, the issues involved are common in all these appeals which were heard together so these are being disposed off by this consolidated order for the sake of convenience and brevity.
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