https://www.taxtmi.com/caselaws?id=103414 A surrender of additional income during assessment proceedings does not, by itself, establish concealment or furnishing of inaccurate particulars for penalty purposes. Where the surrender was made to buy peace and avoid further litigation, and the surrounding facts did not justify a concealment penalty, section 271(1)(c) penalty was not sustainable. The cancellation of the penalty by the first appellate authority was therefore upheld. en-us Wed, 09 Jan 2002 00:00:00 +0530 Wed, 22 Feb 2012 17:22:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103414 A surrender of additional income during assessment proceedings does not, by itself, establish concealment or furnishing of inaccurate particulars for penalty purposes. Where the surrender was made to buy peace and avoid further litigation, and the surrounding facts did not justify a concealment penalty, section 271(1)(c) penalty was not sustainable. The cancellation of the penalty by the first appellate authority was therefore upheld. Case-Laws Income Tax Wed, 09 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103414