https://www.taxtmi.com/caselaws?id=220815 The High Court upheld the decision that no penalty for inaccurate particulars and concealment of income should be imposed on the taxpayer, a professional international tennis player, as the failure to declare the undisclosed income was deemed a bona fide mistake rectified promptly upon realization. The Court found no deliberate concealment or furnishing of inaccurate particulars, as the undisclosed amount was eventually declared for taxation. The appeal by the Revenue was dismissed, with no substantial question of law identified for consideration. en-us Thu, 09 Feb 2012 00:00:00 +0530 Sun, 10 Feb 2013 07:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220815 The High Court upheld the decision that no penalty for inaccurate particulars and concealment of income should be imposed on the taxpayer, a professional international tennis player, as the failure to declare the undisclosed income was deemed a bona fide mistake rectified promptly upon realization. The Court found no deliberate concealment or furnishing of inaccurate particulars, as the undisclosed amount was eventually declared for taxation. The appeal by the Revenue was dismissed, with no substantial question of law identified for consideration. Case-Laws Income Tax Thu, 09 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220815