https://www.taxtmi.com/caselaws?id=185330 The Appellate Tribunal affirmed the decision to dismiss the Revenue's appeal, emphasizing that the revision of the return was not a deliberate act to evade tax liability. The Tribunal found that the revision was made voluntarily without coercion from scrutiny notices, and there was no intention to claim the loss improperly. The penalty imposed under section 271(1)(c) of the Income Tax Act was deleted, considering the revision as a bona fide claim in accordance with relevant provisions and precedents. en-us Fri, 22 Jul 2011 00:00:00 +0530 Wed, 10 Aug 2016 10:30:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185330 The Appellate Tribunal affirmed the decision to dismiss the Revenue's appeal, emphasizing that the revision of the return was not a deliberate act to evade tax liability. The Tribunal found that the revision was made voluntarily without coercion from scrutiny notices, and there was no intention to claim the loss improperly. The penalty imposed under section 271(1)(c) of the Income Tax Act was deleted, considering the revision as a bona fide claim in accordance with relevant provisions and precedents. Case-Laws Income Tax Fri, 22 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185330