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2020 (4) TMI 791 - AT - Income TaxPenalty u/s 271(1)(c) - disclosure of additional income in search under section 153A - HELD THAT:- Explanation could be invoked if during the course of search any incriminating material representing any money, bullion, jewellery other valuables articles or things or entry in any books of accounts found during the course of search, based on such material, addition is being made. This Explanation cannot be invoked simply for the reason that, had the search not been carried out, the assessee would not have disclosed this additional income. Solely on the basis of declaration, addition is not possible. See SMT. LOPA PANKAJ DAVE [2019 (12) TMI 908 - ITAT AHMEDABAD] - Delete the penalty imposed - Decided in favour of assessee.
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