https://www.taxtmi.com/caselaws?id=332589 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c), concluding that the surrender of income was voluntary and did not constitute concealment. The appeal by the Revenue was dismissed, affirming that the facts and circumstances did not warrant the imposition of a penalty. The judgment emphasized the need for independent assessment of penalty proceedings and the importance of proving actual concealment or furnishing of inaccurate particulars. en-us Thu, 11 Aug 2016 00:00:00 +0530 Wed, 21 Sep 2016 15:51:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332589 The Tribunal upheld the CIT(A)'s decision to delete the penalty under Section 271(1)(c), concluding that the surrender of income was voluntary and did not constitute concealment. The appeal by the Revenue was dismissed, affirming that the facts and circumstances did not warrant the imposition of a penalty. The judgment emphasized the need for independent assessment of penalty proceedings and the importance of proving actual concealment or furnishing of inaccurate particulars. Case-Laws Income Tax Thu, 11 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332589