https://www.taxtmi.com/caselaws?id=371423 The Tribunal upheld the penalty of Rs. 4,39,162/- imposed under section 271(1)(c) of the Income-tax Act, 1961, as the additional income was not considered voluntarily disclosed. The Tribunal emphasized that the TDS adjustment did not exempt the assessee from declaring total income, reinforcing that plea of no tax due after concealment did not excuse penalty imposition. Relying on the Supreme Court's decision in MAK Data (P.) Ltd. Vs. CIT, the Tribunal affirmed that voluntary disclosure does not negate penalty proceedings, leading to the dismissal of the assessee's appeal. en-us Mon, 26 Nov 2018 00:00:00 +0530 Tue, 04 Dec 2018 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371423 The Tribunal upheld the penalty of Rs. 4,39,162/- imposed under section 271(1)(c) of the Income-tax Act, 1961, as the additional income was not considered voluntarily disclosed. The Tribunal emphasized that the TDS adjustment did not exempt the assessee from declaring total income, reinforcing that plea of no tax due after concealment did not excuse penalty imposition. Relying on the Supreme Court's decision in MAK Data (P.) Ltd. Vs. CIT, the Tribunal affirmed that voluntary disclosure does not negate penalty proceedings, leading to the dismissal of the assessee's appeal. Case-Laws Income Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371423