https://www.taxtmi.com/caselaws?id=69953 The majority opinion, supported by the Third Member, concluded that the penalties under Section 271(1)(c) should be cancelled as there was no clear evidence of concealment of income by the assessee for the assessment years 1972-73, 1973-74, and 1974-75. The revised returns were filed as part of an arrangement with the department and did not constitute an admission of concealment. en-us Sat, 03 Dec 1983 00:00:00 +0530 Wed, 13 Apr 2011 10:48:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69953 The majority opinion, supported by the Third Member, concluded that the penalties under Section 271(1)(c) should be cancelled as there was no clear evidence of concealment of income by the assessee for the assessment years 1972-73, 1973-74, and 1974-75. The revised returns were filed as part of an arrangement with the department and did not constitute an admission of concealment. Case-Laws Income Tax Sat, 03 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69953