https://www.taxtmi.com/caselaws?id=27344 Penalty under Section 271(1)(c) was not sustainable where the assessee had filed a voluntary revised return before the Income-tax Officer commenced hearing and the Tribunal found, on the totality of the circumstances, that concealment could not be inferred. The absence of an express statement in the original return was treated as insufficient to override the evidentiary value of the revised return. The High Court held that these were findings of fact, that they were justified on the record, and that the unchallenged factual basis supported cancellation of the penalty. en-us Tue, 13 Dec 1983 00:00:00 +0530 Fri, 12 Feb 2010 12:17:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27344 Penalty under Section 271(1)(c) was not sustainable where the assessee had filed a voluntary revised return before the Income-tax Officer commenced hearing and the Tribunal found, on the totality of the circumstances, that concealment could not be inferred. The absence of an express statement in the original return was treated as insufficient to override the evidentiary value of the revised return. The High Court held that these were findings of fact, that they were justified on the record, and that the unchallenged factual basis supported cancellation of the penalty. Case-Laws Income Tax Tue, 13 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27344