https://www.taxtmi.com/caselaws?id=447581 HC dismissed appeals and upheld ITAT's penalty under section 271(1)(c). Court found appellant's revised returns were not valid under section 139(5) as they were filed only after survey detection of concealment, not voluntarily. Despite appellant's argument that additional income was declared with tax payment before show cause notices, HC ruled this constituted deliberate omission in original return. CIT(A) had deleted penalty but ITAT restored it. HC agreed with ITAT that revised return was not voluntary, confirming penalty was sustainable. Substantial questions of law answered in favor of revenue. en-us Fri, 17 Nov 2023 00:00:00 +0530 Sat, 30 Dec 2023 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447581 HC dismissed appeals and upheld ITAT's penalty under section 271(1)(c). Court found appellant's revised returns were not valid under section 139(5) as they were filed only after survey detection of concealment, not voluntarily. Despite appellant's argument that additional income was declared with tax payment before show cause notices, HC ruled this constituted deliberate omission in original return. CIT(A) had deleted penalty but ITAT restored it. HC agreed with ITAT that revised return was not voluntary, confirming penalty was sustainable. Substantial questions of law answered in favor of revenue. Case-Laws Income Tax Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447581