https://www.taxtmi.com/caselaws?id=261166 Penalty under section 271(1)(c) is attracted where an assessee files a revised return only after being confronted with material indicating undisclosed expenditure or inaccurate particulars. The note states that a claim of voluntary surrender to buy peace does not, by itself, negate concealment or furnishing of inaccurate particulars. It also records that the assessee's explanation was not acceptable, and that the absence of independent support from seized papers did not prevent reliance on the assessee's own conduct and revised disclosure. A consistency argument based on another assessment year was rejected, and the penalty deletion by the Tribunal was described as incorrect. en-us Thu, 02 Jul 2015 00:00:00 +0530 Sat, 07 Nov 2015 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261166 Penalty under section 271(1)(c) is attracted where an assessee files a revised return only after being confronted with material indicating undisclosed expenditure or inaccurate particulars. The note states that a claim of voluntary surrender to buy peace does not, by itself, negate concealment or furnishing of inaccurate particulars. It also records that the assessee's explanation was not acceptable, and that the absence of independent support from seized papers did not prevent reliance on the assessee's own conduct and revised disclosure. A consistency argument based on another assessment year was rejected, and the penalty deletion by the Tribunal was described as incorrect. Case-Laws Income Tax Thu, 02 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261166