https://www.taxtmi.com/caselaws?id=340540 The Tribunal upheld the penalty imposition under section 271(1)(c) for concealment of income but directed exclusion of the income already declared while recalculating the penalty, remanding the issue to the Assessing Officer for appropriate computation. The appeal by the Revenue was allowed, emphasizing the application of Explanation 5A post-2007 and the necessity for accurate penalty calculation excluding previously declared income. en-us Tue, 14 Feb 2017 00:00:00 +0530 Thu, 23 Mar 2017 09:09:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340540 The Tribunal upheld the penalty imposition under section 271(1)(c) for concealment of income but directed exclusion of the income already declared while recalculating the penalty, remanding the issue to the Assessing Officer for appropriate computation. The appeal by the Revenue was allowed, emphasizing the application of Explanation 5A post-2007 and the necessity for accurate penalty calculation excluding previously declared income. Case-Laws Income Tax Tue, 14 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340540