https://www.taxtmi.com/caselaws?id=339599 The Tribunal allowed the appeal of the assessee, canceling the penalty of 28,773 imposed by the Assessing Officer under section 271(1)(c) for concealment of income. The Tribunal found the assessee's explanation for the omission of income to be genuine, considering the circumstances, age, and voluntary disclosure in the revised return. Emphasizing the unintentional nature of the omission, the Tribunal held that the penalty was unjustified, overturning the decisions of the lower authorities. en-us Tue, 28 Feb 2017 00:00:00 +0530 Fri, 03 Mar 2017 06:49:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339599 The Tribunal allowed the appeal of the assessee, canceling the penalty of 28,773 imposed by the Assessing Officer under section 271(1)(c) for concealment of income. The Tribunal found the assessee's explanation for the omission of income to be genuine, considering the circumstances, age, and voluntary disclosure in the revised return. Emphasizing the unintentional nature of the omission, the Tribunal held that the penalty was unjustified, overturning the decisions of the lower authorities. Case-Laws Income Tax Tue, 28 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339599