https://www.taxtmi.com/caselaws?id=254169 The appeals filed by the assessee were allowed, and the penalties imposed under Section 271(1)(c) for additional income disclosed in response to notices under Section 153A were deleted. The Tribunal held that if the return filed under Section 153A is accepted by the Assessing Officer, there is no concealment of income, and consequently, no penalty can be imposed. The Tribunal's decision was based on precedents and the application of relevant provisions under Explanation 5. en-us Fri, 14 Mar 2014 00:00:00 +0530 Mon, 15 Dec 2014 06:44:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254169 The appeals filed by the assessee were allowed, and the penalties imposed under Section 271(1)(c) for additional income disclosed in response to notices under Section 153A were deleted. The Tribunal held that if the return filed under Section 153A is accepted by the Assessing Officer, there is no concealment of income, and consequently, no penalty can be imposed. The Tribunal's decision was based on precedents and the application of relevant provisions under Explanation 5. Case-Laws Income Tax Fri, 14 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254169