https://www.taxtmi.com/caselaws?id=266201 The Appellate Tribunal ruled in favor of the assessee, ordering the deletion of penalties imposed under section 271(1)(c) of the Income-tax Act for assessment years 1998-99 to 2000-01. The Tribunal found that the revised return filed by the assessee was not due to concealment of income but rather to validate additional income offered, as no concealment was detected during any assessment proceedings. Consequently, the penalties were deemed unjustified and were deleted for all the respective assessment years. en-us Wed, 04 Mar 2015 00:00:00 +0530 Mon, 19 Oct 2015 07:40:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266201 The Appellate Tribunal ruled in favor of the assessee, ordering the deletion of penalties imposed under section 271(1)(c) of the Income-tax Act for assessment years 1998-99 to 2000-01. The Tribunal found that the revised return filed by the assessee was not due to concealment of income but rather to validate additional income offered, as no concealment was detected during any assessment proceedings. Consequently, the penalties were deemed unjustified and were deleted for all the respective assessment years. Case-Laws Income Tax Wed, 04 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266201