https://www.taxtmi.com/caselaws?id=337493 The Tribunal allowed the appeal and deleted the penalty of Rs. 3,13,540/- imposed under Section 271(1)(c) of the Income-tax Act, 1961. It ruled that the revised return of income was voluntarily filed before any notice from the Department and there was no deliberate attempt to conceal income. The Tribunal found the case analogous to a previous decision involving the assessee's sister, where penalty deletion was justified due to voluntary disclosure without any intention to conceal income. en-us Mon, 07 Nov 2016 00:00:00 +0530 Tue, 10 Jan 2017 07:26:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337493 The Tribunal allowed the appeal and deleted the penalty of Rs. 3,13,540/- imposed under Section 271(1)(c) of the Income-tax Act, 1961. It ruled that the revised return of income was voluntarily filed before any notice from the Department and there was no deliberate attempt to conceal income. The Tribunal found the case analogous to a previous decision involving the assessee's sister, where penalty deletion was justified due to voluntary disclosure without any intention to conceal income. Case-Laws Income Tax Mon, 07 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337493