Voluntary disclosure does not release assessee from mischief of penal proceedings

Brief of the case: In the case of S.L. Shiva Raj Vs. DCIT Hyderabad Bench of ITAT uphold the penalty order by holding that the penalty is levied with reference to original return of income and not with reference to the assessment made consequent to the disclosure by assessee. Facts of the case: Assessee is a Sales Tax Practitioner and filed ROI for the AY 2002-03 disclosing an income of Rs. 2,99,263/-. There were search and seizure operations conducted in assessee’s case on 16-06-2008, when he was intercepted at Rajiv Gandhi International Airport at Hyderabad on his way from Chennai and cas...