Penalty u/s. 271(1)(c) unjustified as voluntary deposit was done before receipt of notice u/s 148

Pradip Burman Vs DCIT (ITAT Delhi)

ITAT Delhi held that imposition of penalty under section 271(1)(c) of the Income Tax Act unjustified as voluntary deposit of tax was done before receiving notice under section 148 of the Income Tax Act.

Facts- The assessee came to know about the information and approached the ADIT, Investigation on his own and offered to pay income tax on the alleged deposit in the alleged HSBC Bank account.

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