https://www.taxtmi.com/caselaws?id=329177 The Tribunal canceled the penalties levied under Section 271(1)(c) for all assessment years under appeal, as it found that Explanation 5A did not apply due to original returns being filed before the due date and no incriminating material was discovered during the search. The appeals of the assessee were allowed, and the penalties were set aside. en-us Tue, 21 Jun 2016 00:00:00 +0530 Fri, 24 Jun 2016 14:54:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329177 The Tribunal canceled the penalties levied under Section 271(1)(c) for all assessment years under appeal, as it found that Explanation 5A did not apply due to original returns being filed before the due date and no incriminating material was discovered during the search. The appeals of the assessee were allowed, and the penalties were set aside. Case-Laws Income Tax Tue, 21 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329177