Discrepancy between original and section 153A tax returns means concealed income, confirming penalty under Explanation 5A, section 271(1)(c).

Discrepancy between original and section 153A tax returns means concealed income, confirming penalty under Explanation 5A, section 271(1)(c). https://www.taxtmi.com/highlights?id=33914 Explanation 5A to section 271(1)(c) is now very clear, that if there is a difference in the original return filed under section 139 (1) of the Act and the return filed in response to section 153A of the Act, the assessee is deemed to have concealed the income - Levy of penalty confirmed - AT en-us Thu, 23 Mar 2017 10:10:10 +0530 Thu, 23 Mar 2017 10:10:10 +0530 TaxTMI RSS Generator Discrepancy between original and section 153A tax returns means concealed income, confirming penalty under Explanation 5A, section 271(1)(c). https://www.taxtmi.com/highlights?id=33914 Explanation 5A to section 271(1)(c) is now very clear, that if there is a difference in the original return filed under section 139 (1) of the Act and the return filed in response to section 153A of the Act, the assessee is deemed to have concealed the income - Levy of penalty confirmed - AT Highlights Income Tax Thu, 23 Mar 2017 10:10:10 +0530 https://www.taxtmi.com/highlights?id=33914