https://www.taxtmi.com/caselaws?id=176495 The Tribunal allowed the Revenue's appeal, reinstating the penalty of Rs. 8,44,050 imposed by the Assessing Officer under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal held that the return filed by the assessee was not voluntary but in response to the notice under Section 148, indicating concealed income. The Tribunal concluded that the return was beyond the permissible period under Section 139(4) and filed after the detection of concealed income, justifying the penalty imposition. en-us Mon, 25 Aug 2014 00:00:00 +0530 Wed, 23 Dec 2015 21:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176495 The Tribunal allowed the Revenue's appeal, reinstating the penalty of Rs. 8,44,050 imposed by the Assessing Officer under Section 271(1)(c) of the Income Tax Act, 1961. The Tribunal held that the return filed by the assessee was not voluntary but in response to the notice under Section 148, indicating concealed income. The Tribunal concluded that the return was beyond the permissible period under Section 139(4) and filed after the detection of concealed income, justifying the penalty imposition. Case-Laws Income Tax Mon, 25 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176495