https://www.taxtmi.com/caselaws?id=68432 The Tribunal ruled in favor of the assessee in an appeal against penalty proceedings initiated under section 271(1)(c) of the IT Act, 1961. The Tribunal accepted the assessee's declared income in the revised return as correct and concluded that the revised return was filed voluntarily, not under pressure from Department inquiries. As the notice under section 148 was issued after the revised return was filed, the Tribunal held that the penalty could not be levied successfully without conclusive evidence of pressure. Therefore, the appeal was allowed in favor of the assessee. en-us Tue, 29 Jun 2004 00:00:00 +0530 Thu, 14 Jun 2012 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68432 The Tribunal ruled in favor of the assessee in an appeal against penalty proceedings initiated under section 271(1)(c) of the IT Act, 1961. The Tribunal accepted the assessee's declared income in the revised return as correct and concluded that the revised return was filed voluntarily, not under pressure from Department inquiries. As the notice under section 148 was issued after the revised return was filed, the Tribunal held that the penalty could not be levied successfully without conclusive evidence of pressure. Therefore, the appeal was allowed in favor of the assessee. Case-Laws Income Tax Tue, 29 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68432