https://www.taxtmi.com/caselaws?id=210312 The court quashed the penalty imposed under section 271(1)(c) of the Income-tax Act, ruling that failure to furnish a return of income does not constitute concealment unless specific conditions under Explanation 3 are met. As the conditions for invoking Explanation 3 were not satisfied in this case, the penalty was deemed unjustified. The court set aside the orders of the Income-tax Officer and the Commissioner of Income-tax, emphasizing that non-furnishing of a return alone does not warrant a penalty under the Act. en-us Fri, 13 May 2011 00:00:00 +0530 Wed, 26 Jun 2013 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210312 The court quashed the penalty imposed under section 271(1)(c) of the Income-tax Act, ruling that failure to furnish a return of income does not constitute concealment unless specific conditions under Explanation 3 are met. As the conditions for invoking Explanation 3 were not satisfied in this case, the penalty was deemed unjustified. The court set aside the orders of the Income-tax Officer and the Commissioner of Income-tax, emphasizing that non-furnishing of a return alone does not warrant a penalty under the Act. Case-Laws Income Tax Fri, 13 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210312