https://www.taxtmi.com/caselaws?id=247619 The Tribunal upheld the levy of penalties under Section 271(1)(c) for the Assessment Years 2003-04 to 2006-07, finding that the assessee had concealed income revealed during a search operation. The surrender of income was deemed involuntary due to incriminating evidence found, and the application of Explanation 5A to Section 271(1)(c) was justified for undeclared income. The Tribunal rejected the assessee's claim that diary entries were not indicative of income, dismissing the appeals and affirming the penalties. en-us Fri, 25 Apr 2014 00:00:00 +0530 Sat, 17 May 2014 09:11:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247619 The Tribunal upheld the levy of penalties under Section 271(1)(c) for the Assessment Years 2003-04 to 2006-07, finding that the assessee had concealed income revealed during a search operation. The surrender of income was deemed involuntary due to incriminating evidence found, and the application of Explanation 5A to Section 271(1)(c) was justified for undeclared income. The Tribunal rejected the assessee's claim that diary entries were not indicative of income, dismissing the appeals and affirming the penalties. Case-Laws Income Tax Fri, 25 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247619