https://www.taxtmi.com/caselaws?id=777589 ITAT, Pune (AT) allowed the assessee's appeal and deleted penalty under section 271(1)(c). The tribunal held that the revised return filed within the prescribed time disclosed the true income, so the declared income could not be treated as unaccounted or as concealment of particulars. The AO's estimate-based assessment and the AR's purported agreement did not justify invoking penalty provisions, and the CIT(A) was incorrect in confirming the penalty. en-us Fri, 10 Jan 2025 00:00:00 +0530 Tue, 02 Sep 2025 08:01:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777589 ITAT, Pune (AT) allowed the assessee's appeal and deleted penalty under section 271(1)(c). The tribunal held that the revised return filed within the prescribed time disclosed the true income, so the declared income could not be treated as unaccounted or as concealment of particulars. The AO's estimate-based assessment and the AR's purported agreement did not justify invoking penalty provisions, and the CIT(A) was incorrect in confirming the penalty. Case-Laws Income Tax Fri, 10 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777589