https://www.taxtmi.com/caselaws?id=55333 The court upheld the order canceling a penalty of Rs. 4,95,410 imposed under Section 271(1)(c) of the Income-tax Act. It was determined that the penalty could not be levied in the absence of a filed return, as concealment of income could only be assessed against a return. The majority view emphasized that the main provision of Section 271(1)(c) did not apply without a filed return, leading to the dismissal of the revenue's appeal. en-us Thu, 11 Mar 2004 00:00:00 +0530 Thu, 25 Nov 2010 16:03:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55333 The court upheld the order canceling a penalty of Rs. 4,95,410 imposed under Section 271(1)(c) of the Income-tax Act. It was determined that the penalty could not be levied in the absence of a filed return, as concealment of income could only be assessed against a return. The majority view emphasized that the main provision of Section 271(1)(c) did not apply without a filed return, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Thu, 11 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55333