https://www.taxtmi.com/caselaws?id=179111 The Tribunal dismissed the Revenue's appeal challenging the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2004-05. It was found that the assessee voluntarily disclosed the additional turnover before assessment completion, leading to the deletion of the penalty. The Tribunal emphasized the distinction between penalty and assessment proceedings, upholding the decision to delete the penalty. en-us Fri, 09 Sep 2011 00:00:00 +0530 Sat, 20 Feb 2016 12:08:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179111 The Tribunal dismissed the Revenue's appeal challenging the penalty imposed under section 271(1)(c) of the Income Tax Act for the assessment year 2004-05. It was found that the assessee voluntarily disclosed the additional turnover before assessment completion, leading to the deletion of the penalty. The Tribunal emphasized the distinction between penalty and assessment proceedings, upholding the decision to delete the penalty. Case-Laws Income Tax Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179111