https://www.taxtmi.com/caselaws?id=195131 The appeal of the assessee was dismissed, and the penalty under section 271(1)(c) was sustained. The Tribunal found that the revised return was not voluntary but a result of the survey revealing undisclosed investments. The Directors admitted to discrepancies, leading to the revised return. The penalty was upheld as the assessee did not provide correct income particulars initially, and the revised return was not deemed voluntary. The incriminating material found during the survey supported the penalty imposition. en-us Fri, 11 Sep 2015 00:00:00 +0530 Tue, 17 Oct 2017 08:21:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195131 The appeal of the assessee was dismissed, and the penalty under section 271(1)(c) was sustained. The Tribunal found that the revised return was not voluntary but a result of the survey revealing undisclosed investments. The Directors admitted to discrepancies, leading to the revised return. The penalty was upheld as the assessee did not provide correct income particulars initially, and the revised return was not deemed voluntary. The incriminating material found during the survey supported the penalty imposition. Case-Laws Income Tax Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195131