https://www.taxtmi.com/highlights?id=48298 Penalty u/s 271(1)(c) - return filed disclosing higher income u/s 153A - no incriminating material found - when the Revenue could not lay hands on any tangible material except conditional and tacit averments, which confession in itself is seen to be non-admission of any ingenuity - no hesitation to hold that such confession u/s 139(4) cannot be the basis for imposition of onerous penalty en-us Wed, 31 Jul 2019 04:31:30 +0530 Tue, 30 Jul 2019 14:05:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=48298 Penalty u/s 271(1)(c) - return filed disclosing higher income u/s 153A - no incriminating material found - when the Revenue could not lay hands on any tangible material except conditional and tacit averments, which confession in itself is seen to be non-admission of any ingenuity - no hesitation to hold that such confession u/s 139(4) cannot be the basis for imposition of onerous penalty Highlights Income Tax Wed, 31 Jul 2019 04:31:30 +0530 https://www.taxtmi.com/highlights?id=48298