https://www.taxtmi.com/caselaws?id=279149 The penalties imposed under section 271(1)(c) of the Income Tax Act for the assessment years 2005-06, 2008-09, and 2009-10 were deleted as the Revenue failed to demonstrate that the additional income declared was based on seized material. The Tribunal held that the deeming provision of Explanation 5A did not apply as the income was voluntarily declared without incriminating material. Consequently, all appeals of the assessee were allowed, and the penalties were deleted. en-us Thu, 06 Apr 2017 00:00:00 +0530 Wed, 06 Mar 2019 06:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279149 The penalties imposed under section 271(1)(c) of the Income Tax Act for the assessment years 2005-06, 2008-09, and 2009-10 were deleted as the Revenue failed to demonstrate that the additional income declared was based on seized material. The Tribunal held that the deeming provision of Explanation 5A did not apply as the income was voluntarily declared without incriminating material. Consequently, all appeals of the assessee were allowed, and the penalties were deleted. Case-Laws Income Tax Thu, 06 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279149