https://www.taxtmi.com/caselaws?id=421026 The Court upheld the Tribunal's decision to delete the penalty for concealment of income and inaccurate particulars. The Court found that the additional income declared by the non-resident individual was voluntarily disclosed and not chargeable to tax in India. The Tribunal concluded that the penalty under Section 271(1)(c) was unjustified as the funds were offered to tax voluntarily. The Court dismissed the Revenue's appeal and upheld the assessee's appeal, ruling that the Tribunal's decision was correct. en-us Mon, 11 Apr 2022 00:00:00 +0530 Fri, 15 Apr 2022 08:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421026 The Court upheld the Tribunal's decision to delete the penalty for concealment of income and inaccurate particulars. The Court found that the additional income declared by the non-resident individual was voluntarily disclosed and not chargeable to tax in India. The Tribunal concluded that the penalty under Section 271(1)(c) was unjustified as the funds were offered to tax voluntarily. The Court dismissed the Revenue's appeal and upheld the assessee's appeal, ruling that the Tribunal's decision was correct. Case-Laws Income Tax Mon, 11 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421026