Penalty on Disclosure of undisclosed income in revised return to buy peace

Disclosure of undisclosed income in a revised return as a matter of purchasing peace would not render the penalty imposed under s 271(1)(c) unsustainable in absence of a satisfactory explanation with regard to its non-disclosure in the original return.

Senthamarai Constructions Vs CIT

High Court of Madras

ITA No. 178 to 180 of 2005 and TCMP Nos. 138 to 140 of 2005

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