https://www.taxtmi.com/caselaws?id=237249 The ITAT dismissed the Income Tax Appeal, ruling in favor of the assessee and against the revenue. The judgment emphasized the importance of the assessee's admission during the search operation and the willingness to pay taxes as factors exempting them from being deemed to have concealed income under Explanation 5 to Section 271(1)(c) of the Income Tax Act. en-us Tue, 10 Sep 2013 00:00:00 +0530 Mon, 03 Feb 2014 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237249 The ITAT dismissed the Income Tax Appeal, ruling in favor of the assessee and against the revenue. The judgment emphasized the importance of the assessee's admission during the search operation and the willingness to pay taxes as factors exempting them from being deemed to have concealed income under Explanation 5 to Section 271(1)(c) of the Income Tax Act. Case-Laws Income Tax Tue, 10 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237249