Court Dismisses Revenue's Claim; No Penalty for Assessee u/s 271(1)(c) for 2002-03 Income Disclosure.

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....Penalty u/s 271(1)(c) - disclosure of true and correct facts - Held that:- the argument of the revenue that in the light of the judgment of this Court in the case of Chaturbhuj Kapadia (2003 -TMI - 12097 - BOMBAY High Court ) the assessee ought to have revised the return of income for AY 2002-03 cannot be accepted. .... - HC....