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2004 (1) TMI 26 - HC - Income TaxImmunity from the imposition of penalty - assessee had made clear that the surrender under section 132(4) in respect of the amount was being made with a view to buy peace and subject to the condition that no penal provision would be invoked against the assessee - Commissioner of Income-tax (Appeals) held that the assessee was entitled to immunity from the imposition of penalty read with the Explanations 1 and 5 to section 271 - assessee has made disclosure without any specific detection of concealed income and it is a well-settled law that if disclosure is made before detection of concealment, it may not attract penalty under section 271(1)(c) - Considering these aspects, the Tribunal has confirmed the order made by the appellate authority. Therefore, in our opinion, no question of law arises in this matter. Hence, this revenue’s appeal is dismissed.
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