https://www.taxtmi.com/caselaws?id=116965 The Tribunal quashed the penalty order under section 271(1)(c) as it was beyond the limitation period, agreeing with the appellant's argument. Additionally, the Tribunal ruled that no penalty should be imposed on the disclosed income of Rs. 61,260, which was voluntarily disclosed before any detection of concealment. The importance of complying with legal provisions, including limitation periods for penalty orders, and the significance of voluntary income disclosure to avoid penalties were underscored in this case. en-us Tue, 17 Jun 2003 00:00:00 +0530 Tue, 19 Jun 2012 12:27:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116965 The Tribunal quashed the penalty order under section 271(1)(c) as it was beyond the limitation period, agreeing with the appellant's argument. Additionally, the Tribunal ruled that no penalty should be imposed on the disclosed income of Rs. 61,260, which was voluntarily disclosed before any detection of concealment. The importance of complying with legal provisions, including limitation periods for penalty orders, and the significance of voluntary income disclosure to avoid penalties were underscored in this case. Case-Laws Income Tax Tue, 17 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116965