https://www.taxtmi.com/caselaws?id=24318 The court upheld the imposition of the penalty under section 271(1)(c) for the assessment year 1969-70, finding that the assessee had concealed income from private practice and interest on fixed deposit receipts. Despite the assessee's revised return disclosing the income, the court considered the delay in disclosure and emphasized the importance of the initial return in assessing the conduct. The penalty was deemed exigible based on the facts and circumstances, ruling against the assessee and awarding costs to the Department. en-us Thu, 06 Oct 1988 00:00:00 +0530 Tue, 19 Jan 2010 11:51:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24318 The court upheld the imposition of the penalty under section 271(1)(c) for the assessment year 1969-70, finding that the assessee had concealed income from private practice and interest on fixed deposit receipts. Despite the assessee's revised return disclosing the income, the court considered the delay in disclosure and emphasized the importance of the initial return in assessing the conduct. The penalty was deemed exigible based on the facts and circumstances, ruling against the assessee and awarding costs to the Department. Case-Laws Income Tax Thu, 06 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24318