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2015 (5) TMI 988 - AT - Income TaxPenalty u/s 271(1)(c) - income offered as a consequence to the detection during the course of post search - Held that:- Respectfully following the order of the Coordinate Bench of Mumbai Tribunal in the case of Mr. Kiran Shah (2014 (1) TMI 1027 - ITAT MUMBAI ) wherein held for the purpose of imposition of penalty u/s. 271(1)(c) resulting as a result of search assessments made u/s. 153A, the original return of income filed u/s. 139 cannot be considered. Where returned income filed under section 153A is accepted by the AO, there will be no concealment of income and, consequently, penalty u/s. 271(1)(c) cannot be imposed - Decided in favour of assessee.
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