https://www.taxtmi.com/caselaws?id=69260 Penalties under section 271(1)(c) of the Income-tax Act were considered unsustainable where the assessee had disclosed income under section 14(1) of the Voluntary Disclosure Act, 1976, the Department had accepted the disclosure, and the tax due had been paid as required. On those facts, the conditions for immunity under section 14(5) were treated as satisfied. A certificate from the Commissioner of Income-tax was held not to be a requirement under section 14(5) and was relevant only to section 8(2) cases. The penalty levy therefore could not stand and any amount already collected was to be refunded. en-us Thu, 08 Mar 1979 00:00:00 +0530 Wed, 06 Apr 2011 10:19:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69260 Penalties under section 271(1)(c) of the Income-tax Act were considered unsustainable where the assessee had disclosed income under section 14(1) of the Voluntary Disclosure Act, 1976, the Department had accepted the disclosure, and the tax due had been paid as required. On those facts, the conditions for immunity under section 14(5) were treated as satisfied. A certificate from the Commissioner of Income-tax was held not to be a requirement under section 14(5) and was relevant only to section 8(2) cases. The penalty levy therefore could not stand and any amount already collected was to be refunded. Case-Laws Income Tax Thu, 08 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69260