https://www.taxtmi.com/caselaws?id=185967 The appeal against the deletion of penalty under section 271(1)(c) for concealment of income identified during a survey was dismissed. The CIT(A) canceled the penalty, citing that the disclosed income was declared in the return within the due date and was accepted without further additions. The Tribunal upheld the CIT(A)'s decision, emphasizing that if the impugned amount is disclosed in the return of income and there is no variation between the returned and assessed income, no penalty is leviable. The Revenue's appeal was dismissed, and no penalty was deemed warranted. en-us Fri, 22 Oct 2010 00:00:00 +0530 Sat, 03 Sep 2016 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185967 The appeal against the deletion of penalty under section 271(1)(c) for concealment of income identified during a survey was dismissed. The CIT(A) canceled the penalty, citing that the disclosed income was declared in the return within the due date and was accepted without further additions. The Tribunal upheld the CIT(A)'s decision, emphasizing that if the impugned amount is disclosed in the return of income and there is no variation between the returned and assessed income, no penalty is leviable. The Revenue's appeal was dismissed, and no penalty was deemed warranted. Case-Laws Income Tax Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185967