https://www.taxtmi.com/caselaws?id=384046 The Tribunal upheld penalties under section 271(1)(c) of the Income Tax Act, 1961, as the additional income declared was based on incriminating materials found during the search. The Tribunal dismissed the appeals, confirming the penalties and emphasizing the significance of seized materials in determining penalty applicability under Explanation 5A. en-us Tue, 30 Jul 2019 00:00:00 +0530 Sat, 03 Aug 2019 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384046 The Tribunal upheld penalties under section 271(1)(c) of the Income Tax Act, 1961, as the additional income declared was based on incriminating materials found during the search. The Tribunal dismissed the appeals, confirming the penalties and emphasizing the significance of seized materials in determining penalty applicability under Explanation 5A. Case-Laws Income Tax Tue, 30 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384046