https://www.taxtmi.com/caselaws?id=456676 Penalty under section 271(1)(c) is not sustainable where revised returns, though filed after the section 139(5) time limit, were submitted before proceedings began, regularised through notice under section 148, and accepted in assessment without further addition. The mere belated filing did not by itself establish concealment. In the absence of a specific finding of wilful and deliberate non-disclosure of income, the penalty could not be imposed, and deletion of the penalty by the first appellate authority was upheld. en-us Wed, 18 Aug 2010 00:00:00 +0530 Thu, 08 Aug 2024 10:31:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456676 Penalty under section 271(1)(c) is not sustainable where revised returns, though filed after the section 139(5) time limit, were submitted before proceedings began, regularised through notice under section 148, and accepted in assessment without further addition. The mere belated filing did not by itself establish concealment. In the absence of a specific finding of wilful and deliberate non-disclosure of income, the penalty could not be imposed, and deletion of the penalty by the first appellate authority was upheld. Case-Laws Income Tax Wed, 18 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456676