https://www.taxtmi.com/highlights?id=47919 Penalty u/s 271(1)(c) - accepted quantum addition - in penalty proceedings he offer explanation that the jewellery found during search were already offered to tax in the VDIS, 1997 - quantum assessment as well as the penalty proceedings are independent of each other - the explanation offered should be tested for its correctness and only if it is found to be palpably false or not acceptable, then the question of imposing the penalty would arise. en-us Mon, 15 Jul 2019 07:20:43 +0530 Sat, 13 Jul 2019 11:18:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47919 Penalty u/s 271(1)(c) - accepted quantum addition - in penalty proceedings he offer explanation that the jewellery found during search were already offered to tax in the VDIS, 1997 - quantum assessment as well as the penalty proceedings are independent of each other - the explanation offered should be tested for its correctness and only if it is found to be palpably false or not acceptable, then the question of imposing the penalty would arise. Highlights Income Tax Mon, 15 Jul 2019 07:20:43 +0530 https://www.taxtmi.com/highlights?id=47919