https://www.taxtmi.com/caselaws?id=205026 The HC upheld penalty under section 271(1)(c) for concealment of income. The assessee claimed voluntary disclosure but provided false information regarding share transactions that never occurred on Delhi Stock Exchange. The court found the assessee deliberately concealed income, prolonged proceedings by withholding information, and approached authorities with unclean hands. The disclosure was deemed involuntary and made under compulsion after being cornered by the Assessing Officer, not bonafide voluntary disclosure. en-us Thu, 13 May 2010 00:00:00 +0530 Fri, 04 Apr 2025 17:19:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205026 The HC upheld penalty under section 271(1)(c) for concealment of income. The assessee claimed voluntary disclosure but provided false information regarding share transactions that never occurred on Delhi Stock Exchange. The court found the assessee deliberately concealed income, prolonged proceedings by withholding information, and approached authorities with unclean hands. The disclosure was deemed involuntary and made under compulsion after being cornered by the Assessing Officer, not bonafide voluntary disclosure. Case-Laws Income Tax Thu, 13 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205026