https://www.taxtmi.com/caselaws?id=468916 Penalty under section 271(1)(c) was sustained because the assessee's weighted deduction claim under section 35(1)(ii) was found to rest on a bogus deduction arrangement. Withdrawal of the claim after notice under section 148 was not treated as voluntary or bona fide, since no revised return was filed before detection and the surrender followed reopening proceedings. The Tribunal applied the principle that surrender after detection does not erase concealment, and held the assessee's reliance on other cases to be distinguishable. en-us Mon, 10 Feb 2025 00:00:00 +0530 Mon, 25 May 2026 20:05:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468916 Penalty under section 271(1)(c) was sustained because the assessee's weighted deduction claim under section 35(1)(ii) was found to rest on a bogus deduction arrangement. Withdrawal of the claim after notice under section 148 was not treated as voluntary or bona fide, since no revised return was filed before detection and the surrender followed reopening proceedings. The Tribunal applied the principle that surrender after detection does not erase concealment, and held the assessee's reliance on other cases to be distinguishable. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468916