https://www.taxtmi.com/caselaws?id=237820 The Tribunal allowed the Revenue's appeal regarding the penalty imposed under section 271(1)(c) for non-disclosure of capital gains. The Tribunal held that the penalty was justified as the capital gain was disclosed only after being confronted by the Department, and the revised return was not filed voluntarily before detection by the A.O. The Tribunal applied principles from a previous case to support the penalty imposition, setting aside the CIT(A)'s order and ruling in favor of the Revenue on 04-10-2013. en-us Fri, 04 Oct 2013 00:00:00 +0530 Tue, 08 Oct 2013 21:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237820 The Tribunal allowed the Revenue's appeal regarding the penalty imposed under section 271(1)(c) for non-disclosure of capital gains. The Tribunal held that the penalty was justified as the capital gain was disclosed only after being confronted by the Department, and the revised return was not filed voluntarily before detection by the A.O. The Tribunal applied principles from a previous case to support the penalty imposition, setting aside the CIT(A)'s order and ruling in favor of the Revenue on 04-10-2013. Case-Laws Income Tax Fri, 04 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237820