https://www.taxtmi.com/caselaws?id=190784 The tribunal allowed the appeals filed by the assessee against penalty orders under section 271(1)(c) of the Income Tax Act for Assessment Years 2002-03, 2003-04, and 2006-07. The tribunal held that the penalty was unwarranted as the additional income disclosed by the assessee was voluntary and not a result of concealment, but rather due to clerical errors and rectifications based on existing records. Therefore, the penalty was deleted for all three assessment years. en-us Wed, 25 Apr 2012 00:00:00 +0530 Mon, 27 Feb 2017 16:52:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190784 The tribunal allowed the appeals filed by the assessee against penalty orders under section 271(1)(c) of the Income Tax Act for Assessment Years 2002-03, 2003-04, and 2006-07. The tribunal held that the penalty was unwarranted as the additional income disclosed by the assessee was voluntary and not a result of concealment, but rather due to clerical errors and rectifications based on existing records. Therefore, the penalty was deleted for all three assessment years. Case-Laws Income Tax Wed, 25 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190784