https://www.taxtmi.com/highlights?id=47169 Penalty u/s 271(1)(c) - the fact that the assessee and his son have declared the undisclosed income in their individual return of income and have paid taxes but capital expenditure and payment towards purchase of land cannot be held as undisclosed income in the hands of the assessee - no penalty under explanation 5A to section 271(1)(c) unless assessee is owner of the undisclosed income en-us Fri, 14 Jun 2019 07:34:10 +0530 Fri, 14 Jun 2019 07:34:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47169 Penalty u/s 271(1)(c) - the fact that the assessee and his son have declared the undisclosed income in their individual return of income and have paid taxes but capital expenditure and payment towards purchase of land cannot be held as undisclosed income in the hands of the assessee - no penalty under explanation 5A to section 271(1)(c) unless assessee is owner of the undisclosed income Highlights Income Tax Fri, 14 Jun 2019 07:34:10 +0530 https://www.taxtmi.com/highlights?id=47169