https://www.taxtmi.com/caselaws?id=469073 Penalty under section 271(1)(c) was discussed in two contexts. For earlier assessment years, additions based on notional annual letting value of properties did not involve real rental receipts, and the text states that concealment penalty could not be sustained merely because notional house property income was brought to tax. For the search year, section 271AAB governed penalty on undisclosed income in a specified previous year and, by its non obstante clause, excluded section 271(1)(c) from that field; where the kind of undisclosed income contemplated by section 271AAB was not established, section 271(1)(c) could not be invoked. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 01 Jun 2026 18:58:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469073 Penalty under section 271(1)(c) was discussed in two contexts. For earlier assessment years, additions based on notional annual letting value of properties did not involve real rental receipts, and the text states that concealment penalty could not be sustained merely because notional house property income was brought to tax. For the search year, section 271AAB governed penalty on undisclosed income in a specified previous year and, by its non obstante clause, excluded section 271(1)(c) from that field; where the kind of undisclosed income contemplated by section 271AAB was not established, section 271(1)(c) could not be invoked. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469073