Tribunal Deletes Penalty u/s 271C; Explanation 5A Applies Only to Searched Person, Not Others in Section 153C Assessment. https://www.taxtmi.com/highlights?id=43880 Penalty u/s 271C - assessment u/s 153C - When there was no addition to the declared income in any of the years, penalty was correctly deleted by the Tribunal. Explanation 5A below Section 271 would apply only in case of searched person, it cannot be extended to the person other than the searched person en-us Mon, 14 Jan 2019 07:35:02 +0530 Mon, 14 Jan 2019 07:35:02 +0530 TaxTMI RSS Generator Tribunal Deletes Penalty u/s 271C; Explanation 5A Applies Only to Searched Person, Not Others in Section 153C Assessment. https://www.taxtmi.com/highlights?id=43880 Penalty u/s 271C - assessment u/s 153C - When there was no addition to the declared income in any of the years, penalty was correctly deleted by the Tribunal. Explanation 5A below Section 271 would apply only in case of searched person, it cannot be extended to the person other than the searched person Highlights Income Tax Mon, 14 Jan 2019 07:35:02 +0530 https://www.taxtmi.com/highlights?id=43880