https://www.taxtmi.com/caselaws?id=261166 Penalty for furnishing inaccurate particulars remains leviable where an assessee files a revised return offering additional income only after summons and confrontation with material recovered in a third-party search. A claim that the disclosure was voluntary to buy peace does not, by itself, negate liability under section 271(1)(c). Omission of relevant expenditure in the original return, followed by revised disclosure and supporting correspondence, can establish inaccurate particulars even without independent corroboration of seized material. A different treatment in another assessment year does not compel consistency. The Tribunal's deletion of penalty was therefore 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 for furnishing inaccurate particulars remains leviable where an assessee files a revised return offering additional income only after summons and confrontation with material recovered in a third-party search. A claim that the disclosure was voluntary to buy peace does not, by itself, negate liability under section 271(1)(c). Omission of relevant expenditure in the original return, followed by revised disclosure and supporting correspondence, can establish inaccurate particulars even without independent corroboration of seized material. A different treatment in another assessment year does not compel consistency. The Tribunal's deletion of penalty was therefore incorrect. Case-Laws Income Tax Thu, 02 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261166