https://www.taxtmi.com/caselaws?id=261000 The Appellate Tribunal ITAT Ahmedabad dismissed the Revenue's appeal, upholding the deletion of penalties imposed on the disclosed additional income and estimated income of profit on suppressed sales. The Tribunal found the voluntary disclosure by the assessee and the application of reasonable profit rates justified the deletion of penalties. The decision was based on previous judgments and the burden on the revenue to establish concealment of income. The judgment was pronounced on March 27, 2015. en-us Fri, 27 Mar 2015 00:00:00 +0530 Tue, 30 Jun 2015 06:42:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261000 The Appellate Tribunal ITAT Ahmedabad dismissed the Revenue's appeal, upholding the deletion of penalties imposed on the disclosed additional income and estimated income of profit on suppressed sales. The Tribunal found the voluntary disclosure by the assessee and the application of reasonable profit rates justified the deletion of penalties. The decision was based on previous judgments and the burden on the revenue to establish concealment of income. The judgment was pronounced on March 27, 2015. Case-Laws Income Tax Fri, 27 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261000