Paying Tax on concealed income not enough to avoid penalty

Advertisement Merely depositing taxes due on concealed income not enough to avoid penalty,if Income not disclosed in ROI IN THE ITAT DELHI BENCH ‘F’ ADIT, Circle-1(1), New Delhi Versus Ravindra Bahl IT Appeal No. 1206 (Delhi) of 2011 Assessment year 2000-01 Date of Pronouncement – 15.10.2012 ORDER I.C. Sudhir, Judicial Member The revenue has questioned first appellate order whereby the ld. CIT (A) has deleted the penalty imposed u/s 271(1)(c) of the Act by the AO. 2. We have heard and considered the argument advanced by the parties in view of orders of the authorities belo...