https://www.taxtmi.com/caselaws?id=117139 Penalty under section 271(1)(c) was not attracted where the assessee filed its return on the due date under section 139(1), the declared income was substantially accepted, and the assessment led only to minor disallowances. The survey occurred before the last date for filing the return, and there was no finding that concealed income was detected after filing or during assessment. On those facts, the return was treated as having disclosed the required income and particulars, so concealment and furnishing of inaccurate particulars were not established; the penalty was cancelled in favour of the assessee. en-us Wed, 22 Jan 2003 00:00:00 +0530 Wed, 20 Jun 2012 15:39:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117139 Penalty under section 271(1)(c) was not attracted where the assessee filed its return on the due date under section 139(1), the declared income was substantially accepted, and the assessment led only to minor disallowances. The survey occurred before the last date for filing the return, and there was no finding that concealed income was detected after filing or during assessment. On those facts, the return was treated as having disclosed the required income and particulars, so concealment and furnishing of inaccurate particulars were not established; the penalty was cancelled in favour of the assessee. Case-Laws Income Tax Wed, 22 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117139