https://www.taxtmi.com/caselaws?id=460516 ITAT Mumbai dismissed the assessee's appeal against penalty under section 271(1)(c) for concealment of income. The assessee filed return only after search and seizure action pursuant to section 153A notice, having failed to file return under section 139(1) initially. The tribunal found that non-filing of original return constituted concealment of income particulars. Revenue's contention that assessee did not appeal the quantum assessment remained uncontroverted. CIT(A)'s penalty order was upheld as judicious and correct, with the tribunal ruling in favor of revenue. en-us Fri, 31 Mar 2017 00:00:00 +0530 Wed, 29 Jan 2025 19:38:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460516 ITAT Mumbai dismissed the assessee's appeal against penalty under section 271(1)(c) for concealment of income. The assessee filed return only after search and seizure action pursuant to section 153A notice, having failed to file return under section 139(1) initially. The tribunal found that non-filing of original return constituted concealment of income particulars. Revenue's contention that assessee did not appeal the quantum assessment remained uncontroverted. CIT(A)'s penalty order was upheld as judicious and correct, with the tribunal ruling in favor of revenue. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460516