https://www.taxtmi.com/acts?id=50311 Explanation 5 to section 18(1) deems assets found in a search under section 37A to be concealed or inaccurately stated for penalty under clause (c) unless, before the date of the search, those assets were recorded in the assessee's books of account (for earlier valuation dates, recorded before the search; for valuation dates on or after the search, recorded on or before that valuation date) or were otherwise disclosed to the Commissioner before the date of the search. en-us Thu, 06 Mar 2025 18:21:14 +0530 Thu, 06 Mar 2025 18:21:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50311 Explanation 5 to section 18(1) deems assets found in a search under section 37A to be concealed or inaccurately stated for penalty under clause (c) unless, before the date of the search, those assets were recorded in the assessee's books of account (for earlier valuation dates, recorded before the search; for valuation dates on or after the search, recorded on or before that valuation date) or were otherwise disclosed to the Commissioner before the date of the search. Act-Rules F. Acts / Amendment Acts Thu, 06 Mar 2025 18:21:14 +0530 https://www.taxtmi.com/acts?id=50311