https://www.taxtmi.com/caselaws?id=273872 The High Court ruled in favor of the appellant, dismissing the appeal against the Tribunal's decision affirming the CIT(A)'s order on penalty under section 271(1)(c). The court emphasized the necessity of evidence to establish concealment of income and distinguished between voluntary disclosure and concealment. The judgment highlighted the importance of relevant case laws, including the Gujarat High Court and Supreme Court decisions, in determining penalty imposition in cases of revised income computation. Ultimately, the court held that mere concealment without supporting evidence is insufficient for penalty imposition, siding with the assessee against the department. en-us Thu, 20 Jul 2017 00:00:00 +0530 Wed, 18 Jul 2018 08:38:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273872 The High Court ruled in favor of the appellant, dismissing the appeal against the Tribunal's decision affirming the CIT(A)'s order on penalty under section 271(1)(c). The court emphasized the necessity of evidence to establish concealment of income and distinguished between voluntary disclosure and concealment. The judgment highlighted the importance of relevant case laws, including the Gujarat High Court and Supreme Court decisions, in determining penalty imposition in cases of revised income computation. Ultimately, the court held that mere concealment without supporting evidence is insufficient for penalty imposition, siding with the assessee against the department. Case-Laws Income Tax Thu, 20 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273872