https://www.taxtmi.com/caselaws?id=234934 The High Court upheld the Tribunal's decision to impose a penalty under Section 271(1)(c) in a Tax Case Appeal for the assessment year 2002-03. The Court found that the concealment of income in the original return, the timing and nature of the revised return, and the conduct of the assessee supported the penalty. Despite the assessee's arguments of voluntariness in correcting errors, the Court emphasized the non-disclosure in the original return and the suspicious timing of the revised return in response to detection. The penalty was confirmed based on the assessee's conduct and circumstances surrounding the filing of the revised return. en-us Tue, 18 Jun 2013 00:00:00 +0530 Thu, 04 Jul 2013 08:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234934 The High Court upheld the Tribunal's decision to impose a penalty under Section 271(1)(c) in a Tax Case Appeal for the assessment year 2002-03. The Court found that the concealment of income in the original return, the timing and nature of the revised return, and the conduct of the assessee supported the penalty. Despite the assessee's arguments of voluntariness in correcting errors, the Court emphasized the non-disclosure in the original return and the suspicious timing of the revised return in response to detection. The penalty was confirmed based on the assessee's conduct and circumstances surrounding the filing of the revised return. Case-Laws Income Tax Tue, 18 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234934