https://www.taxtmi.com/caselaws?id=32544 The High Court upheld the Tribunal's decision to cancel penalties under sections 271(1)(a), 271(1)(c), and 273(2)(a) of the Income-tax Act for the Assessment Years 1982-83 to 1985-86. The Court found that the revised returns were voluntary and in good faith, meeting the conditions of the Amnesty Scheme. It was determined that the Income Tax Department had not detected concealment before the filing of the revised returns, making the assessee eligible for immunity from penalties. The appeals were dismissed, affirming the cancellation of penalties based on a correct interpretation of the Amnesty Scheme. en-us Tue, 16 Sep 2008 00:00:00 +0530 Mon, 08 Jul 2013 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32544 The High Court upheld the Tribunal's decision to cancel penalties under sections 271(1)(a), 271(1)(c), and 273(2)(a) of the Income-tax Act for the Assessment Years 1982-83 to 1985-86. The Court found that the revised returns were voluntary and in good faith, meeting the conditions of the Amnesty Scheme. It was determined that the Income Tax Department had not detected concealment before the filing of the revised returns, making the assessee eligible for immunity from penalties. The appeals were dismissed, affirming the cancellation of penalties based on a correct interpretation of the Amnesty Scheme. Case-Laws Income Tax Tue, 16 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32544