https://www.taxtmi.com/caselaws?id=431468 The Tribunal allowed the appeals, deleting penalties imposed under Section 271(1)(c) for Assessment Years 2007-08 and 2011-12. It emphasized the necessity of concrete evidence linking disclosed income to search findings for Explanation 5A application. The penalties were deemed inappropriate as the disclosed income did not fall under deemed concealment per Explanation 5A. en-us Mon, 12 Dec 2022 00:00:00 +0530 Wed, 14 Dec 2022 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431468 The Tribunal allowed the appeals, deleting penalties imposed under Section 271(1)(c) for Assessment Years 2007-08 and 2011-12. It emphasized the necessity of concrete evidence linking disclosed income to search findings for Explanation 5A application. The penalties were deemed inappropriate as the disclosed income did not fall under deemed concealment per Explanation 5A. Case-Laws Income Tax Mon, 12 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431468