https://www.taxtmi.com/caselaws?id=22835 The High Court of Allahabad set aside the Commissioner of Income-tax's order under section 273A of the Income-tax Act, 1961, in a writ petition. The petitioner's disclosure of concealed income within 15 days of a raid was deemed insufficiently "full and true" by the Commissioner, leading to penalties. The court emphasized the need for the disclosure to meet the criteria of being 'full and true' to avoid penalties. The judgment clarified the application of Explanation 2 to sub-section (1) of section 273A and directed the matter to be reconsidered by the Commissioner, highlighting the importance of verifying the acceptance of revised returns for a valid disclosure. en-us Thu, 06 Sep 1990 00:00:00 +0530 Mon, 14 Dec 2009 13:56:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22835 The High Court of Allahabad set aside the Commissioner of Income-tax's order under section 273A of the Income-tax Act, 1961, in a writ petition. The petitioner's disclosure of concealed income within 15 days of a raid was deemed insufficiently "full and true" by the Commissioner, leading to penalties. The court emphasized the need for the disclosure to meet the criteria of being 'full and true' to avoid penalties. The judgment clarified the application of Explanation 2 to sub-section (1) of section 273A and directed the matter to be reconsidered by the Commissioner, highlighting the importance of verifying the acceptance of revised returns for a valid disclosure. Case-Laws Income Tax Thu, 06 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22835