https://www.taxtmi.com/caselaws?id=70937 The Tribunal allowed the appeal, setting aside the penalty imposed on the assessee under Section 271(1)(c) of the Income Tax Act. The Tribunal found that the revenue did not prove mens rea on the part of the assessee and concluded that the omission in filing returns was due to carelessness, not intentional concealment. The voluntary filing of revised returns before detection indicated no intention to conceal income. The penalty of Rs. 1,48,507 was quashed. en-us Wed, 10 Dec 1975 00:00:00 +0530 Wed, 20 Apr 2011 12:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70937 The Tribunal allowed the appeal, setting aside the penalty imposed on the assessee under Section 271(1)(c) of the Income Tax Act. The Tribunal found that the revenue did not prove mens rea on the part of the assessee and concluded that the omission in filing returns was due to carelessness, not intentional concealment. The voluntary filing of revised returns before detection indicated no intention to conceal income. The penalty of Rs. 1,48,507 was quashed. Case-Laws Income Tax Wed, 10 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70937