DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(1) KOLKATA, KOLKATA vs. RADHESHYAM AGARWALA, KOLKATA

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ITA 2603/KOL/2024Status: DisposedITAT Kolkata20 May 2025AY 2016-17Bench: SHRI GEORGE MATHAN (Judicial Member), SHRI RAKESH MISHRA (Accountant Member)6 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The tribunal upheld the CIT(A)'s decision, ruling that penalties under Section 271(1)(c) and Section 270A were not leviable. It found that no search was conducted directly on the assessee, the returns filed under Section 153C were accepted without additions, and no incriminating material was used. Citing High Court judgments, the tribunal concluded that once returned income is accepted and considered as a return filed under Section 139(1), no penalty for concealment or misreporting of income can be levied. The revenue's appeals were dismissed, and the assessee's cross-objections, being in support of the CIT(A)'s order, were also dismissed as infructuous.

What were the facts?

A search was conducted on certain share brokers, which subsequently led to a search on the assessee's son. The son provided an undertaking to disclose amounts in the father's (assessee's) case. The assessee filed returns in response to a Section 153C notice, which were accepted by the AO without any further additions. The AO levied penalties under Section 271(1)(c) and Section 270A for various assessment years, which the CIT(A) subsequently deleted.

What were the issues?

Whether penalties under Section 271(1)(c) or Section 270A are leviable when returns filed in response to a Section 153C notice are accepted without additions, and no search was conducted directly on the assessee.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 270A,Section 153C,Section 153A,Section 139(1)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(5)Show list

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Income Tax Appellate Tribunal, “C” BENCH, KOLKATA

Before: SHRI GEORGE MATHAN & SHRI RAKESH MISHRA

Hearing: 20/05/2025Pronounced: 20/05/2025

आदेश की प्रनतललपप अग्रेपर्त/Copy of the Order forwarded to : अपीलार्थी / The Appellant- 1.

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