https://www.taxtmi.com/caselaws?id=355782 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, as the conditions under Explanation 5A were met. The appeal was dismissed, as the undisclosed income detected during the search and subsequently surrendered was deemed concealed income. The additional grounds raised by the assessee were admitted but ultimately dismissed, with the Tribunal finding the default of concealment of income evident. The order was pronounced on 02/01/2018. en-us Tue, 02 Jan 2018 00:00:00 +0530 Mon, 19 Feb 2018 08:43:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355782 The Tribunal upheld the penalty imposed under section 271(1)(c) of the Income Tax Act, 1961, as the conditions under Explanation 5A were met. The appeal was dismissed, as the undisclosed income detected during the search and subsequently surrendered was deemed concealed income. The additional grounds raised by the assessee were admitted but ultimately dismissed, with the Tribunal finding the default of concealment of income evident. The order was pronounced on 02/01/2018. Case-Laws Income Tax Tue, 02 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355782