https://www.taxtmi.com/caselaws?id=66710 The Tribunal allowed the appeals filed by the assessee, canceling the penalties levied by the AO under section 271(1)(c) of the Income Tax Act. It concluded that the assessee's explanation for filing revised returns was bona fide, and the Department failed to provide sufficient evidence demonstrating that the revised returns were filed due to detection by the Revenue authorities. The Tribunal emphasized the lack of evidence proving that the income disclosed in the revised returns was detected by the Department before filing, thus shifting the onus back to the Department, which it did not meet. en-us Thu, 11 Aug 2005 00:00:00 +0530 Mon, 22 Apr 2024 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66710 The Tribunal allowed the appeals filed by the assessee, canceling the penalties levied by the AO under section 271(1)(c) of the Income Tax Act. It concluded that the assessee's explanation for filing revised returns was bona fide, and the Department failed to provide sufficient evidence demonstrating that the revised returns were filed due to detection by the Revenue authorities. The Tribunal emphasized the lack of evidence proving that the income disclosed in the revised returns was detected by the Department before filing, thus shifting the onus back to the Department, which it did not meet. Case-Laws Income Tax Thu, 11 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66710