https://www.taxtmi.com/caselaws?id=179306 The Revenue's appeal against penalty imposition under s. 271(1)(c) of the Income Tax Act, following additional income declared post-survey u/s 133A, was dismissed. The CIT(A) had deleted the penalty, which was upheld by the Tribunal. The disclosure of additional income was considered voluntary, with no evidence of concealment found. The Tribunal found no basis for sustaining the penalty on an estimation basis, supporting the CIT(A)'s decision. Consequently, the Revenue's appeal was dismissed, and the penalty cancellation was upheld. en-us Wed, 09 Feb 2011 00:00:00 +0530 Thu, 25 Feb 2016 18:25:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179306 The Revenue's appeal against penalty imposition under s. 271(1)(c) of the Income Tax Act, following additional income declared post-survey u/s 133A, was dismissed. The CIT(A) had deleted the penalty, which was upheld by the Tribunal. The disclosure of additional income was considered voluntary, with no evidence of concealment found. The Tribunal found no basis for sustaining the penalty on an estimation basis, supporting the CIT(A)'s decision. Consequently, the Revenue's appeal was dismissed, and the penalty cancellation was upheld. Case-Laws Income Tax Wed, 09 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179306