https://www.taxtmi.com/caselaws?id=376308 The Tribunal upheld the imposition of penalties under Section 271(1)(c) on the additional income declared in the return filed under Section 153A post-search. The Tribunal emphasized that the statutory presumption of concealment under Explanation 5A applies in search cases, and the revised return under Section 153A does not absolve the assessee from penalty liability. All appeals of the assessee were dismissed, and the penalties imposed by the Revenue authorities were upheld. en-us Thu, 28 Feb 2019 00:00:00 +0530 Wed, 06 Mar 2019 09:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376308 The Tribunal upheld the imposition of penalties under Section 271(1)(c) on the additional income declared in the return filed under Section 153A post-search. The Tribunal emphasized that the statutory presumption of concealment under Explanation 5A applies in search cases, and the revised return under Section 153A does not absolve the assessee from penalty liability. All appeals of the assessee were dismissed, and the penalties imposed by the Revenue authorities were upheld. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376308