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| The Tax Publishers2019 TaxPub(DT) 8421 (Ahd-Trib) INCOME TAX ACT, 1961
Section 271(1)(c), Expln. 5A
Where assessee had disclosed additional income in return filed in response to notice issued under section 153A voluntarily, then there could not be any penalty under Expln. 5A to section 271(1)(c) as income disclosed by assessee in pursuance to search was not based on incriminating document.
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Penalty under section 271(1)(c) - Concealment or furnishing penalty under section 271(1)(c) - Concealment or furnishing of inaccurate particulars - Leviability income disclosed by assessee in pursuance to search was not based on incriminating document
Assessee surrendered additional income during the course of search. AO levied penalty @ 100% amount of tax sought to be evaded under section 271(1)(c) read with Expln. 5A. Held: As evident, assessee had disclosed additional income in return filed in response to notice issued under section 153A voluntarily, hence, there could not be any penalty under Expln. 5A to section 271(1)(c) as income disclosed by assessee in pursuance to search was not based on incriminating document.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2011-12, 2012-13 & 2013-14
INCOME TAX ACT, 1961
Section 271AAB, Expln. (c)
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