https://www.taxtmi.com/caselaws?id=262888 The Tribunal upheld the penalty of Rs. 67,75,500 under Section 271(1)(c) of the Income Tax Act, rejecting the assessee's arguments related to the conditions of surrender, compliance by the department, validity of additions based on undelivered letters, and statements without cross-examination. The penalty was justified as the revised return did not qualify for immunity, being filed after the assessee was cornered during assessment proceedings, and the original return did not disclose the full income surrendered. en-us Tue, 27 Aug 2013 00:00:00 +0530 Sat, 22 Aug 2015 07:50:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262888 The Tribunal upheld the penalty of Rs. 67,75,500 under Section 271(1)(c) of the Income Tax Act, rejecting the assessee's arguments related to the conditions of surrender, compliance by the department, validity of additions based on undelivered letters, and statements without cross-examination. The penalty was justified as the revised return did not qualify for immunity, being filed after the assessee was cornered during assessment proceedings, and the original return did not disclose the full income surrendered. Case-Laws Income Tax Tue, 27 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262888