https://www.taxtmi.com/caselaws?id=243480 ITAT held that penalty under s.271(1)(c) cannot be imposed where the income was declared and taxed in the return; survey u/s133A cannot by itself justify penalty. The tribunal found the starting point for concealment is the return, survey proceedings are not "in the course of any proceedings" for initiating penalty, and mere surmise cannot sustain penalty. Since the assessee made full disclosure and offered the surrendered amount to tax, penalty could not be levied. Decision in favour of the assessee. en-us Wed, 14 Aug 2013 00:00:00 +0530 Wed, 12 Nov 2025 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243480 ITAT held that penalty under s.271(1)(c) cannot be imposed where the income was declared and taxed in the return; survey u/s133A cannot by itself justify penalty. The tribunal found the starting point for concealment is the return, survey proceedings are not "in the course of any proceedings" for initiating penalty, and mere surmise cannot sustain penalty. Since the assessee made full disclosure and offered the surrendered amount to tax, penalty could not be levied. Decision in favour of the assessee. Case-Laws Income Tax Wed, 14 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243480