No penalty if Assessee revises return before completion of Assessment & correct Bonafide mistake

Shri Altaf Hussain Laskar Vs DCIT (ITAT Guwahati)

The case of the assessee is that he has committed certain mistakes in computing the income originally, whereby certain exempt income was included as taxable and certain perquisites were claimed as exempt in the revised return. In other words, earlier assessee has included the value of LIC policy received on maturity in the salary. Later on, it has excluded this in the revised return but simultaneously has erred in excluding the perquisites value also. As far as LIC maturity a

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