https://www.taxtmi.com/caselaws?id=392773 The appeal against the penalty under section 271(1)(c) for Assessment Year 2008-09 was successful. The appellant, a Director in a company, had admitted additional income during a survey, which was accepted by the Assessing Officer. The penalty was imposed without specifying the charge or invoking Explanation 5A of section 271(1)(c). The Tribunal found that no concealment or inaccurate particulars existed as the income declaration was accepted without variance. Consequently, the appeal was allowed, and the penalty was set aside. en-us Tue, 14 Jan 2020 00:00:00 +0530 Fri, 28 Feb 2020 10:44:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392773 The appeal against the penalty under section 271(1)(c) for Assessment Year 2008-09 was successful. The appellant, a Director in a company, had admitted additional income during a survey, which was accepted by the Assessing Officer. The penalty was imposed without specifying the charge or invoking Explanation 5A of section 271(1)(c). The Tribunal found that no concealment or inaccurate particulars existed as the income declaration was accepted without variance. Consequently, the appeal was allowed, and the penalty was set aside. Case-Laws Income Tax Tue, 14 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392773