https://www.taxtmi.com/caselaws?id=192204 The High Court ruled in favor of the assessee, canceling the penalty under section 271(1)(c) of the Income Tax Act. The Court emphasized that the disclosure of undisclosed income during assessment satisfied the conditions of the Act, leading to the cancellation of the penalty. Additionally, the Court clarified that the non-payment of tax before filing the return of income did not invalidate the penalty cancellation, citing previous judgments to support its decision. en-us Tue, 10 May 2005 00:00:00 +0530 Fri, 19 May 2017 18:56:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192204 The High Court ruled in favor of the assessee, canceling the penalty under section 271(1)(c) of the Income Tax Act. The Court emphasized that the disclosure of undisclosed income during assessment satisfied the conditions of the Act, leading to the cancellation of the penalty. Additionally, the Court clarified that the non-payment of tax before filing the return of income did not invalidate the penalty cancellation, citing previous judgments to support its decision. Case-Laws Income Tax Tue, 10 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192204