https://www.taxtmi.com/caselaws?id=366878 The tribunal upheld the deletion of the penalty imposed under Section 271(1)(c) of the Income Tax Act. It was determined that the revised return, filed within the prescribed period and including the surrendered amount, did not warrant a penalty as there was no concealment or furnishing of inaccurate particulars. The appeal of the Revenue was dismissed, affirming that the revised return filed by the assessee was valid and did not attract the penalty. en-us Fri, 07 Sep 2018 00:00:00 +0530 Wed, 12 Sep 2018 09:44:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366878 The tribunal upheld the deletion of the penalty imposed under Section 271(1)(c) of the Income Tax Act. It was determined that the revised return, filed within the prescribed period and including the surrendered amount, did not warrant a penalty as there was no concealment or furnishing of inaccurate particulars. The appeal of the Revenue was dismissed, affirming that the revised return filed by the assessee was valid and did not attract the penalty. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366878