https://www.taxtmi.com/caselaws?id=383870 The High Court upheld the Tribunal's decision to delete a penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The Court affirmed that no penalty can be levied when income is disclosed in the return filed post-survey, emphasizing that concealment must be evident in the return. It was clarified that survey proceedings do not trigger penalty under Section 271(1)(c) as they are for evidence collection only. The Court dismissed the appeal, supporting the Tribunal's correct interpretation and application of the law. en-us Tue, 23 Jul 2019 00:00:00 +0530 Wed, 06 Nov 2019 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383870 The High Court upheld the Tribunal's decision to delete a penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961. The Court affirmed that no penalty can be levied when income is disclosed in the return filed post-survey, emphasizing that concealment must be evident in the return. It was clarified that survey proceedings do not trigger penalty under Section 271(1)(c) as they are for evidence collection only. The Court dismissed the appeal, supporting the Tribunal's correct interpretation and application of the law. Case-Laws Income Tax Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383870