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2009 (4) TMI 78 - HC - Income TaxPenalty u/s 271(1)(c) - neither in the original return nor in the revised return the petitioner had disclosed the income - clear case of concealment of income - petitioner did not disclose the manner in which such income had been derived, therefore, case is not covered by explanation 5 of Section 271 - immunity available under Explanation 5 is not available to the assessee - Commissioner has recorded a finding of fact that the transactions were disclosed in the course of search – no merit in petition
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