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2017 (2) TMI 678 - HC - Income TaxPenalty u/s 271(1)(c) - disclosures made by the offering incomes in the returns under Section 153A - Held that:- We do not find any application of Smt. Meera Devi (2012 (8) TMI 812 - DELHI HIGH COURT ) to the present case. The requirement of clause (2) in Explanation 5 under Section 271 (1) was not fulfilled in the facts of that case. The assessees did not make any disclosure or statement or surrender income during the course of search. They filed a return, which for the first time disclosed the hitherto concealed income. In those facts the Delhi High Court held that their explanations were not the kind which fell within the exception to Explanation 5. So far as Prasanna Dugar (2015 (5) TMI 317 - CALCUTTA HIGH COURT ) is concerned, we find with dismay that the said judgment relates to application of Explanation 5A under Section 271 (1) while application of exception clause(2)in Explanation 5 is the case before us. The contention of the Revenue sought to be raised by the questions suggested stand already answered by Brijendra Gupta (2015 (7) TMI 451 - CALCUTTA HIGH COURT ) as held he expression “unless” appears after Clauses (a) and (b) of Explanation which provides for imposition of penalty. Therefore, ‘unless’ has to apply to the provision for imposition of penalty. Therefore, the aforesaid expression “to be furnished” has to be interpreted as ‘‘required to be furnished”. Only in that case the Section will make a meaning otherwise the Section does not make any meaning. - Decided against revenue.
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