In the result, both the appeals of the assessee are allowed
Bench: S/Shri Chandra Poojari , Am & George George K., Jm
147 before appeals. The Hon’ble High Court of Kerala in the case of CIT vs. K. Mahim reported in 15 Taxman 557 has held that mere filing of return would not exonerate assessee from liability to penalty, nor filing of revised return after the departmental investigation would absolve the assessee from penalty.” 4. The CIT(A) observed that