https://www.taxtmi.com/caselaws?id=14149 The High Court held that an individual who filed a return after cash seizure by Customs and Central Excise and Income-tax Department under section 132A cannot escape penalty under section 271(1)(c) for concealing income. It was ruled that disclosing the seized cash in the return does not prevent a finding of concealment. The Court determined that the Amnesty Scheme does not apply in such cases, and Explanation 5 to section 271(1)(c) is applicable to proceedings under section 132A, rejecting the Tribunal's interpretation. The outcome favored the Revenue over the assessee in this case. en-us Thu, 09 Sep 1999 00:00:00 +0530 Tue, 14 Jul 2009 11:01:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14149 The High Court held that an individual who filed a return after cash seizure by Customs and Central Excise and Income-tax Department under section 132A cannot escape penalty under section 271(1)(c) for concealing income. It was ruled that disclosing the seized cash in the return does not prevent a finding of concealment. The Court determined that the Amnesty Scheme does not apply in such cases, and Explanation 5 to section 271(1)(c) is applicable to proceedings under section 132A, rejecting the Tribunal's interpretation. The outcome favored the Revenue over the assessee in this case. Case-Laws Income Tax Thu, 09 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14149