Section 271AAA, 271(1)(c) of Income Tax Act, 1961— Levy of penalty— The assessee filed this appeal against the order of CIT(A) wherein CIT(A) upheld the action of the AO in restoring the penalty levied u/s. 271(1)(c), while giving effect to the ITAT order.

Held that— the reasoning of ld.CIT(A) that “thus the Hon’ble ITAT stated that – (i) the income disclosed by the assessee in the Return of Income which is not part of Regular Accounts is liable for levy of penalty u/s.271(1)(c) and (ii) the order of the CIT(A) directing the Assessing Officer to levy penalty u/s.271 AAA of the Income Tax Act on the undisclosed income cannot be sustained. Hence the action of the Assessing Officer to sustain the penalty u/s 271(1)(c) levied vide order dt 27/6/2011 in the revision order dt 13/1/2017 is upheld.” is justified and hence, we do not find any merit in the assessee’s appeal.[SMT. R. MAHALAKSHMI VERSUS THE ACIT, NON-CORPORATE CIRCLE – 17 (1) , CHENNAI.] [2019] 17 ITCD Online (18) [ITAT CHENNAI]