https://www.taxtmi.com/caselaws?id=361472 The High Court upheld the imposition of penalties under Section 271(1)(c) of the Income Tax Act, 1961 for the assessment years 2001-02 and 2002-03. The Court found that the revised returns filed by the assessee were not voluntary but were made under the pressure of potential adverse action by the tax department. The Court rejected the assessee's arguments and confirmed the orders of the Tribunal and the Commissioner of Income Tax, emphasizing that the additional income disclosed in the revised returns was a result of concealment and not a voluntary disclosure to avoid litigation. en-us Mon, 04 Jun 2018 00:00:00 +0530 Wed, 06 Jun 2018 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361472 The High Court upheld the imposition of penalties under Section 271(1)(c) of the Income Tax Act, 1961 for the assessment years 2001-02 and 2002-03. The Court found that the revised returns filed by the assessee were not voluntary but were made under the pressure of potential adverse action by the tax department. The Court rejected the assessee's arguments and confirmed the orders of the Tribunal and the Commissioner of Income Tax, emphasizing that the additional income disclosed in the revised returns was a result of concealment and not a voluntary disclosure to avoid litigation. Case-Laws Income Tax Mon, 04 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361472