https://www.taxtmi.com/caselaws?id=34270 The Tribunal reversed the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, despite the CIT(A) accepting the revised return offering undisclosed income. The Tribunal held that concealment in the original return cannot be absolved by a revised return after detection, emphasizing the need for explanations on initial non-disclosure. Surrendering income post-detection does not constitute voluntary disclosure, leading to the dismissal of the appeal due to clear concealment without merit for penalty exemption. en-us Wed, 22 Jul 2009 00:00:00 +0530 Thu, 07 May 2026 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34270 The Tribunal reversed the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, despite the CIT(A) accepting the revised return offering undisclosed income. The Tribunal held that concealment in the original return cannot be absolved by a revised return after detection, emphasizing the need for explanations on initial non-disclosure. Surrendering income post-detection does not constitute voluntary disclosure, leading to the dismissal of the appeal due to clear concealment without merit for penalty exemption. Case-Laws Income Tax Wed, 22 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34270