https://www.taxtmi.com/caselaws?id=9543 The High Court reinstated the penalty under section 271(1)(c) against the assessee for concealing sales of cloth discovered through unrecorded transactions during a search operation. The Court found the Tribunal's decision to cancel the penalty based on voluntary disclosure to be erroneous, emphasizing the deliberate concealment of income by the assessee. en-us Mon, 11 Jul 2005 00:00:00 +0530 Sat, 27 Jun 2009 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9543 The High Court reinstated the penalty under section 271(1)(c) against the assessee for concealing sales of cloth discovered through unrecorded transactions during a search operation. The Court found the Tribunal's decision to cancel the penalty based on voluntary disclosure to be erroneous, emphasizing the deliberate concealment of income by the assessee. Case-Laws Income Tax Mon, 11 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9543