https://www.taxtmi.com/caselaws?id=56027 The Tribunal held that the penalty under section 271(1)(c) of the IT Act was unwarranted as the assessee voluntarily disclosed additional income without any intention to conceal. Consequently, the penalty of Rs. 80,640 was deleted, and the appeal was allowed in favor of the assessee. en-us Wed, 18 Dec 2002 00:00:00 +0530 Wed, 01 Dec 2010 11:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56027 The Tribunal held that the penalty under section 271(1)(c) of the IT Act was unwarranted as the assessee voluntarily disclosed additional income without any intention to conceal. Consequently, the penalty of Rs. 80,640 was deleted, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Wed, 18 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56027