https://www.taxtmi.com/caselaws?id=9614 Penalty under section 271(1)(c) of the Income-tax Act was held sustainable where revised returns were filed after a search but the original omission was found to be deliberate rather than accidental or bona fide. The court reiterated that a later revised return does not erase earlier concealment or false particulars, and the decisive question is whether income was intentionally concealed at any stage. Acceptance of the revised return did not bar penalty because the explanation failed to satisfactorily negate concealment and the authorities had recorded genuine satisfaction on the material before them. en-us Tue, 21 Feb 2006 00:00:00 +0530 Sun, 28 Jun 2009 09:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9614 Penalty under section 271(1)(c) of the Income-tax Act was held sustainable where revised returns were filed after a search but the original omission was found to be deliberate rather than accidental or bona fide. The court reiterated that a later revised return does not erase earlier concealment or false particulars, and the decisive question is whether income was intentionally concealed at any stage. Acceptance of the revised return did not bar penalty because the explanation failed to satisfactorily negate concealment and the authorities had recorded genuine satisfaction on the material before them. Case-Laws Income Tax Tue, 21 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9614