https://www.taxtmi.com/caselaws?id=200508 The ITAT canceled the penalty imposed under section 271(1)(c) despite the assessee revising the return and disclosing income before the notice under section 148 was issued. The ITAT found the penalty was solely based on the revised income offered by the assessee voluntarily, vacating the lower authorities' findings and partially allowing the appeal. en-us Fri, 03 Feb 2012 00:00:00 +0530 Sat, 31 Mar 2018 17:38:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200508 The ITAT canceled the penalty imposed under section 271(1)(c) despite the assessee revising the return and disclosing income before the notice under section 148 was issued. The ITAT found the penalty was solely based on the revised income offered by the assessee voluntarily, vacating the lower authorities' findings and partially allowing the appeal. Case-Laws Income Tax Fri, 03 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200508