https://www.taxtmi.com/caselaws?id=78589 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Court found that the revised return declaring additional income was filed voluntarily by the assessee before the detection of concealment, indicating no wilful concealment. The Court concluded that the Assessing Officer had not detected the concealment before the revised return was filed, leading to the dismissal of the revenue's appeals. en-us Mon, 30 Aug 2010 00:00:00 +0530 Tue, 30 Nov 2010 21:51:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78589 The High Court upheld the Tribunal's decision to delete the penalty imposed under Section 271(1)(c) of the Income Tax Act. The Court found that the revised return declaring additional income was filed voluntarily by the assessee before the detection of concealment, indicating no wilful concealment. The Court concluded that the Assessing Officer had not detected the concealment before the revised return was filed, leading to the dismissal of the revenue's appeals. Case-Laws Income Tax Mon, 30 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78589