https://www.taxtmi.com/highlights?id=48432 Penalty u/s 271(1)(c) - the assessee has admitted discovery of loose papers, documents/electronic data and whose basis he has prepared his return showing additional income. In the face of the above discovery of evidence, it could not be said that Explanation 5A is not applicable - Penalty confirmed. en-us Mon, 05 Aug 2019 07:51:36 +0530 Mon, 05 Aug 2019 07:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=48432 Penalty u/s 271(1)(c) - the assessee has admitted discovery of loose papers, documents/electronic data and whose basis he has prepared his return showing additional income. In the face of the above discovery of evidence, it could not be said that Explanation 5A is not applicable - Penalty confirmed. Highlights Income Tax Mon, 05 Aug 2019 07:51:36 +0530 https://www.taxtmi.com/highlights?id=48432