https://www.taxtmi.com/caselaws?id=273335 The Tribunal allowed the assessee's appeal, holding that the penalty under Section 271(1)(c) was not justified. The revised return filed under Section 153C, which was accepted by the revenue, replaced the original return, and no concealment was established based on the revised return. The Tribunal's decision was influenced by the principles of strict interpretation of penal provisions and the specific context of returns filed under Section 153C. The appeal was allowed, and the penalty was deleted. en-us Wed, 12 Jul 2017 00:00:00 +0530 Mon, 18 Jun 2018 16:37:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273335 The Tribunal allowed the assessee's appeal, holding that the penalty under Section 271(1)(c) was not justified. The revised return filed under Section 153C, which was accepted by the revenue, replaced the original return, and no concealment was established based on the revised return. The Tribunal's decision was influenced by the principles of strict interpretation of penal provisions and the specific context of returns filed under Section 153C. The appeal was allowed, and the penalty was deleted. Case-Laws Income Tax Wed, 12 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273335