Case Law Details
M/s OSE Infrastructure Ltd. Vs ACIT (ITAT Delhi)
When the revised return is accepted and the income is assessed as per the revised income, there is no scope for penalty. In the case of Kirit Dahyabhai Patel vs ACIT, (2017) 80 Taxmann.com 162 (Guj), the Hon’ble High Court held that in view of specific provision of Section 153A, the return of income filed in response to notice u/s 153A is to be considered as return filed u/s 139, as the AO has made assessment on the said return and, therefore, the return has to be considered for the purpose of penalty u/s 271(1)(c) of the Act and the penalty is to be levied on the income assessed over and above the income returned u/s 153A, if any. Admittedly, in this matter both the returned income and the assessed income are nil. On this ground also, we cannot sustain the penalty order.
FULL TEXT OF THE ITAT JUDGMENT
Challenging the common order of the learned Commissioner of Income-tax (Appeals)-31, New Delhi (for short “Ld. CIT(A)) dated 24.08.2016, assessee preferred these appeals.
2. Parties, facts and question of law involved in all these matters are substantially the same, as such, we deem it just and fair to dispose of the same by way of common order with reference to the facts relating to the year 2009-10.
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