https://www.taxtmi.com/caselaws?id=257704 The Tribunal held that the revised returns were filed voluntarily to avoid litigation, with no direct evidence of deliberate income concealment. Penalties under Section 271(1)(c) were deemed unjustified as the disclosed income was accepted without additions. The absence of incriminating material and reliance on third-party statements led to the dismissal of Revenue's appeals. The Tribunal upheld the CIT(A)'s decision, emphasizing the lack of proof of concealment, ultimately dismissing all Revenue appeals. en-us Thu, 26 Feb 2015 00:00:00 +0530 Fri, 13 Mar 2015 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257704 The Tribunal held that the revised returns were filed voluntarily to avoid litigation, with no direct evidence of deliberate income concealment. Penalties under Section 271(1)(c) were deemed unjustified as the disclosed income was accepted without additions. The absence of incriminating material and reliance on third-party statements led to the dismissal of Revenue's appeals. The Tribunal upheld the CIT(A)'s decision, emphasizing the lack of proof of concealment, ultimately dismissing all Revenue appeals. Case-Laws Income Tax Thu, 26 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257704