Penalty on Revised Return U/S 271(1)(c)

271(1)(c) is on concealment of income, not for invalid revised return. There must be some additional facts involved. Pls clarify.

 no it wont be imposed. first of all a defective return has no existence in eyes of law. secondly the itr filed subsequently is a belated return and the assessee is voluntarily disclosing his income. he is not filing a return in response to any assessment notice.

yeh... penalty can b imposed u/s 271(1)(c) ..... validity of revised return is immeterial...

No penalty can be imposed.