No penalty on income on which tax been paid before notice U/s. 148 & disclosed later

Prabhjit Singh Sidhu Vs. Asst. DIT (International Taxation) (ITAT Chandigarh) The facts before us also demonstrate that the disclosure in the return of income filed under section 148 of the Act was voluntary and before detection of the same by the Revenue. The payment of taxes on the said income two months prior to issue of notice under section 148 by the Revenue reveals that the assessee intended to disclose the same by way of revised return which he could have validly done in the said period since the limitation for filing the revised return expired on 31-3-2010 while the assessee had paid t...