No Penalty Under Section 271(1)(c) When No Tax is Evaded

Smt. Kavita Sachdev Vs ITO (ITAT Indore) Issue: Whether penalty under Section 271(1)(c) of the Income Tax Act, 1961  can be levied when the assessee had paid self-assessment tax before the issue of notice under section 148. BRIEF FACTS: The assessee failed to file the original return for the relevant year but paid self-assessment tax before a notice u/s 148 was issued for reassessment. The Assessing Officer (AO) completed the assessment under Section 147 and levied a penalty u/s 271(1)(c) for concealment of income. ASSESSEE’S CONTENTIONS: 1. The assessee paid self-assessment tax volunta...