SH. CHETAN JAIN,LUDHIANA vs. DCIT, LUDHIANA

In the result, the appeal of the assessee is dismissed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptash.Chetan Jain, Vs. The D.C.I.T., B-121, Pushap Vihar, Central Circle-Iii, Canal Road, Ludhiana. Ludhiana. Pan: Aaypj0618H (Appellant) (Respondent)

2) When return of income filed u/s 153A is accepted by the Assessing Officer, there will be no concealment of income and consequently penalty u/s 271(1)(c) of the Act cannot be imposed. 17. The Ld. counsel for assessee also relied upon the decision of various Tribunals in this context which were referred before the Ld.CIT(Appeals) also