https://www.taxtmi.com/caselaws?id=373491 The Bombay High Court upheld the Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income-Tax Act, 1961. The Court found that since no additions were made to the declared income and returns were filed before the notice under Section 153C, the penalty deletion was justified. The application of Explanation 5A under Section 271 was limited to searched persons only, and penalties under Section 271C applied specifically to searched persons. The Court dismissed all appeals, concluding that the penalty deletion by the Tribunal was appropriate based on the presented circumstances. en-us Tue, 08 Jan 2019 00:00:00 +0530 Sun, 13 Jan 2019 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373491 The Bombay High Court upheld the Tribunal's decision to delete the penalty under Section 271(1)(c) of the Income-Tax Act, 1961. The Court found that since no additions were made to the declared income and returns were filed before the notice under Section 153C, the penalty deletion was justified. The application of Explanation 5A under Section 271 was limited to searched persons only, and penalties under Section 271C applied specifically to searched persons. The Court dismissed all appeals, concluding that the penalty deletion by the Tribunal was appropriate based on the presented circumstances. Case-Laws Income Tax Tue, 08 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373491