2009 (6) TMI 654 - ITAT AHMEDABAD-B

Penalty u/s 271(1)(c) - the provisions of section 271(1)(c) are applicable to assessment made under section 153A - whether the immunity under Explanation 5(2) to section 271(1)(c) is available to the assessees - Held that:- The additional income declared in returns filed after the date of the search, pursuant to declaration under section 132(4) do not fall under the category of the return mentioned in Explanation 5(2) to section 271(1)(c) - In respect of all the earlier years, needless to add, the due dates for filing returns under section 139(1) would have ended much earlier. Returns were filed by the assessees after the search, in response to notices issued under section 153A on 31-5-2004. The additional income declared in these returns do not fall under the category of the return mentioned in Explanation 5(2) to section 271(1)(c). Therefore, the assessees are not entitled to the immunity from penalty.