https://www.taxtmi.com/caselaws?id=295430 The Tribunal ruled in favor of the assessee, canceling the penalty imposed under section 271(1)(c) due to the deletion of quantum additions. The decision was based on the principle that if the income is disclosed in the return, penalty for concealment is not applicable. en-us Fri, 10 Dec 2010 00:00:00 +0530 Thu, 03 Jun 2021 16:15:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295430 The Tribunal ruled in favor of the assessee, canceling the penalty imposed under section 271(1)(c) due to the deletion of quantum additions. The decision was based on the principle that if the income is disclosed in the return, penalty for concealment is not applicable. Case-Laws Income Tax Fri, 10 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295430