https://www.taxtmi.com/highlights?id=51857 Levy of penalty u/s 271(1)(c) - suo moto disclosure of income before detection by the AO - It is the settled law that the belated return cannot be revised under the provisions of section 139(5) of the Act. In view of the above we hold that there was no possibility for the assessee to revise the return of income - No penalty - AT en-us Tue, 18 Feb 2020 12:55:06 +0530 Tue, 18 Feb 2020 12:55:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=51857 Levy of penalty u/s 271(1)(c) - suo moto disclosure of income before detection by the AO - It is the settled law that the belated return cannot be revised under the provisions of section 139(5) of the Act. In view of the above we hold that there was no possibility for the assessee to revise the return of income - No penalty - AT Highlights Income Tax Tue, 18 Feb 2020 12:55:06 +0530 https://www.taxtmi.com/highlights?id=51857