https://www.taxtmi.com/caselaws?id=27469 The court upheld the Tribunal's decision to delete penalties for the assessment years 1963-64 and 1964-65, ruling that there was no concealment of income by the assessee. The court emphasized that the assessment process must consider the entirety of proceedings, not just the formal return, under section 271(1)(c) of the Income-tax Act, 1961. It differentiated this provision from section 277 and clarified that filing revised returns cannot absolve an assessee from a false return. The court awarded costs to the assessee as the Department lost in both references. en-us Mon, 17 Jan 1983 00:00:00 +0530 Sat, 13 Feb 2010 10:44:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27469 The court upheld the Tribunal's decision to delete penalties for the assessment years 1963-64 and 1964-65, ruling that there was no concealment of income by the assessee. The court emphasized that the assessment process must consider the entirety of proceedings, not just the formal return, under section 271(1)(c) of the Income-tax Act, 1961. It differentiated this provision from section 277 and clarified that filing revised returns cannot absolve an assessee from a false return. The court awarded costs to the assessee as the Department lost in both references. Case-Laws Income Tax Mon, 17 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27469