No penalty for not offering Salary Income for Taxation due to oversight

Anmole Singh Ghuman Vs ITO (ITAT Pune) We note that the assessee is an individual filed return declaring total income of Rs.5,39,360/-. A notice u/s 143(2) of the Act was issued seeking explanation regarding the return of income. According to the AO on verification of 26AS data, it was found that the assessee accepted salary income from Sesa Sterlite Ltd. and not offered for taxation. For not disclosing the said salary in the return of income, the AO initiated penalty proceedings u/s 271(1)(c) of the Act for furnishing inaccurate particulars. It was explained by the assessee that due to oversi...