https://www.taxtmi.com/caselaws?id=58606 The appeal against the penalty under section 271(1)(c) of the Income-tax Act, 1961 for assessment year 1980-81 was dismissed by the Tribunal. The penalty of Rs. 72,634 imposed by the ITO was upheld as the Tribunal found that the assessee's filing of a revised return after detection of concealment did not absolve them from penalties. The Tribunal determined that the concealment was deliberate, and the revised return was filed with mala fide intentions, leading to the conclusion that the penalty was justified based on the legal position and facts of the case. en-us Mon, 22 Jan 1990 00:00:00 +0530 Mon, 20 Dec 2010 18:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58606 The appeal against the penalty under section 271(1)(c) of the Income-tax Act, 1961 for assessment year 1980-81 was dismissed by the Tribunal. The penalty of Rs. 72,634 imposed by the ITO was upheld as the Tribunal found that the assessee's filing of a revised return after detection of concealment did not absolve them from penalties. The Tribunal determined that the concealment was deliberate, and the revised return was filed with mala fide intentions, leading to the conclusion that the penalty was justified based on the legal position and facts of the case. Case-Laws Income Tax Mon, 22 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58606