https://www.taxtmi.com/caselaws?id=64322 The tribunal upheld the penalty imposed by the Assessing Officer under Section 271(1)(c) of the Income Tax Act, confirming that the omission of Rs. 1.5 crores in the original return was not a bona fide mistake but a deliberate act of concealment. The revised return was deemed non-voluntary as it was filed only after receiving a notice from the AO. The tribunal referenced judicial precedents to support its decision, ultimately dismissing the appeal and affirming the penalty. en-us Thu, 15 Jul 2004 00:00:00 +0530 Mon, 07 Feb 2011 11:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64322 The tribunal upheld the penalty imposed by the Assessing Officer under Section 271(1)(c) of the Income Tax Act, confirming that the omission of Rs. 1.5 crores in the original return was not a bona fide mistake but a deliberate act of concealment. The revised return was deemed non-voluntary as it was filed only after receiving a notice from the AO. The tribunal referenced judicial precedents to support its decision, ultimately dismissing the appeal and affirming the penalty. Case-Laws Income Tax Thu, 15 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64322