https://www.taxtmi.com/caselaws?id=65220 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to cancel the penalty under Section 271(1)(c), ruling that the disclosure of Rs. 3,46,000 was voluntary and made before formal detection by the Assessing Officer. The Tribunal found that the revised return filed by the assessee was a proactive step to disclose additional income. The Revenue's appeal was dismissed, affirming that no penalty was justifiable in this case. en-us Mon, 10 Aug 1998 00:00:00 +0530 Mon, 14 Feb 2011 12:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65220 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to cancel the penalty under Section 271(1)(c), ruling that the disclosure of Rs. 3,46,000 was voluntary and made before formal detection by the Assessing Officer. The Tribunal found that the revised return filed by the assessee was a proactive step to disclose additional income. The Revenue's appeal was dismissed, affirming that no penalty was justifiable in this case. Case-Laws Income Tax Mon, 10 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65220