https://www.taxtmi.com/caselaws?id=215700 The penalty under section 271(1)(c) of the Income-tax Act, 1961 was deemed not leviable as the additional income voluntarily declared could not be considered concealed income without concrete evidence. The Tribunal emphasized procedural irregularities and the lack of evidence for concealment, leading to the penalty being deleted and the appeal of the assessee being allowed. en-us Fri, 04 May 2012 00:00:00 +0530 Mon, 13 Aug 2012 16:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215700 The penalty under section 271(1)(c) of the Income-tax Act, 1961 was deemed not leviable as the additional income voluntarily declared could not be considered concealed income without concrete evidence. The Tribunal emphasized procedural irregularities and the lack of evidence for concealment, leading to the penalty being deleted and the appeal of the assessee being allowed. Case-Laws Income Tax Fri, 04 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215700