https://www.taxtmi.com/caselaws?id=61281 The tribunal allowed the assessee's appeals and dismissed those of the revenue, deleting the imposed penalties. The tribunal found that the assessee's actions were not indicative of intentional concealment but rather a genuine mistake, as evidenced by the voluntary disclosure of income from the same assets for income tax purposes. The tribunal concluded that there was no justification for sustaining the penalties, considering the assessee's voluntary correction of omissions and good faith demonstrated. en-us Sat, 30 Apr 1983 00:00:00 +0530 Wed, 12 Jan 2011 10:46:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61281 The tribunal allowed the assessee's appeals and dismissed those of the revenue, deleting the imposed penalties. The tribunal found that the assessee's actions were not indicative of intentional concealment but rather a genuine mistake, as evidenced by the voluntary disclosure of income from the same assets for income tax purposes. The tribunal concluded that there was no justification for sustaining the penalties, considering the assessee's voluntary correction of omissions and good faith demonstrated. Case-Laws Wealth-tax Sat, 30 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61281