Dismissing the appeal of the revenue the Court held that amount disclosed in the survey was included in return. Return was accepted. Accordingly levy of penalty is held to be not valid.(AY. 2012-13)
CIT v. Shree Sai Developers. (2019) 418 ITR 306 /( 2020) 186 DTR 105/ 314 CTR 641(Guj) (HC)
S. 271(1)(c) : Penalty–Concealment–Survey-Amount disclosed in the survey was included in return-Return was accepted–Levy of penalty is held to be not valid. [S. 133A]