https://www.taxtmi.com/caselaws?id=339302 Delhi HC held that penalty under Section 271(1)(c) is not automatic when return filed under Section 153A discloses higher income than original return under Section 139(1). The court ruled that once assessee files revised return under Section 153A and it is accepted by Assessing Officer, the original return under Section 139 becomes non-existent. For penalty purposes, concealment must be examined with reference to the Section 153A return, not the original return. Section 153A provides a second chance to rectify omissions in original return. Additionally, Explanation-5 to Section 271(1)(c) was held inapplicable as no material was recovered during search for assessment years 2005-06 and 2006-07. The assessee voluntarily added amounts unrelated to seized materials. ITAT order was upheld, deciding question of law in favor of assessee. en-us Thu, 09 Feb 2017 00:00:00 +0530 Tue, 22 Jul 2025 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339302 Delhi HC held that penalty under Section 271(1)(c) is not automatic when return filed under Section 153A discloses higher income than original return under Section 139(1). The court ruled that once assessee files revised return under Section 153A and it is accepted by Assessing Officer, the original return under Section 139 becomes non-existent. For penalty purposes, concealment must be examined with reference to the Section 153A return, not the original return. Section 153A provides a second chance to rectify omissions in original return. Additionally, Explanation-5 to Section 271(1)(c) was held inapplicable as no material was recovered during search for assessment years 2005-06 and 2006-07. The assessee voluntarily added amounts unrelated to seized materials. ITAT order was upheld, deciding question of law in favor of assessee. Case-Laws Income Tax Thu, 09 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339302