Penalty justified for Deliberate non-disclosure of income

Smt Joyti Sunil Maniyar Vs ITO (ITAT Ahmedabad) In the notice issued u/s 142(1) dated 11.10.2011 a specific query was raised by the AO about the capital gain income. After that, the assessee vide reply dated 22.11.2011 conceded the fact of non-disclosing the capital gain income. From the above, it is transpired that the assessee did not offer the capital gain income su moto for a quite long time until the AO raised the specific query about the undisclosed income. The overall conduct of the assessee and circumstances suggest that the assessee deliberately did not offer the capital gain income i...