https://www.taxtmi.com/caselaws?id=58318 The Tribunal held that penalties under section 271(1)(c) of the Income-tax Act for the assessment years 1983-84 and 1984-85 were wrongly imposed and confirmed by the CIT (Appeals). The penalties were deleted, allowing the appeals by the assessee. The Tribunal emphasized that the revised returns were filed voluntarily under the Amnesty Scheme and were not a result of any detection of concealed income by the department. The Tribunal also highlighted the binding nature of CBDT circulars, supporting the assessee's case for voluntary disclosure. en-us Mon, 19 Aug 1991 00:00:00 +0530 Sat, 18 Dec 2010 14:11:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58318 The Tribunal held that penalties under section 271(1)(c) of the Income-tax Act for the assessment years 1983-84 and 1984-85 were wrongly imposed and confirmed by the CIT (Appeals). The penalties were deleted, allowing the appeals by the assessee. The Tribunal emphasized that the revised returns were filed voluntarily under the Amnesty Scheme and were not a result of any detection of concealed income by the department. The Tribunal also highlighted the binding nature of CBDT circulars, supporting the assessee's case for voluntary disclosure. Case-Laws Income Tax Mon, 19 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58318