https://www.taxtmi.com/caselaws?id=219652 The court upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, ruling that the assessee was not entitled to immunity under Explanation 5. The court found that the assessee failed to fulfill the conditions specified in Clause (2) of Explanation 5, as the income was not disclosed in the original return or after the notice under Section 153A. The court emphasized that the provisions of Clause (2) to Explanation 5 did not apply in this case, leading to the dismissal of the appeal with no substantial question of law arising for consideration. en-us Wed, 12 Dec 2012 00:00:00 +0530 Mon, 03 Feb 2014 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219652 The court upheld the penalty imposed under Section 271(1)(c) of the Income Tax Act, ruling that the assessee was not entitled to immunity under Explanation 5. The court found that the assessee failed to fulfill the conditions specified in Clause (2) of Explanation 5, as the income was not disclosed in the original return or after the notice under Section 153A. The court emphasized that the provisions of Clause (2) to Explanation 5 did not apply in this case, leading to the dismissal of the appeal with no substantial question of law arising for consideration. Case-Laws Income Tax Wed, 12 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219652