https://www.taxtmi.com/article/detailed?id=11478 Explanation 5A to Section 271(1)(c) treats income found in a search as deemed concealed for penalty purposes if it was not declared in the relevant prior-year return or if no return was filed by the due date. Where surrendered income is disclosed in the regular return filed under Section 139(1) and taxed, the penal provision does not apply to treat that disclosure as furnishing inaccurate particulars; penalty remains possible only when the statutory conditions of Explanation 5A are met. en-us Fri, 09 Jun 2023 10:14:21 +0530 Fri, 09 Jun 2023 10:14:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11478 Explanation 5A to Section 271(1)(c) treats income found in a search as deemed concealed for penalty purposes if it was not declared in the relevant prior-year return or if no return was filed by the due date. Where surrendered income is disclosed in the regular return filed under Section 139(1) and taxed, the penal provision does not apply to treat that disclosure as furnishing inaccurate particulars; penalty remains possible only when the statutory conditions of Explanation 5A are met. Articles Income Tax Fri, 09 Jun 2023 10:14:21 +0530 https://www.taxtmi.com/article/detailed?id=11478