2019 (5) TMI 1384

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.... For the Respondent : Shri AR.V. Sreenivasan, JCIT ORDER PER DUVVURU RL REDDY, JUDICIAL MEMBER: By means of present miscellaneous petition, the assessee seeks to recall the order of the Tribunal passed in I.T.A. No. 1112/Chny/2015 dated 23.09.2016 relevant to the assessment 2009-10 by stating that the levy of penalty should not have been construed as automatic and ought to have been appreciate....

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....not filed his return of income under section 139 of the Act. Only after conduct of search operation under section 132 of the Act and after issuing notice under section 153A of the Act, the assessee has come forward to file his belated return of income. After scrutiny of seized materials and verification of particulars filed by the assessee, the Assessing Officer found that the assessee has made un....

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....oncealment and furnishing inaccurate particulars in the belated return filed against the notice under section 153A of the Act. In this case, neither the assessee filed his return before due date of filing of return of income nor furnished complete particulars of income or even after service of notice under section 153A of the Act, the assessee has furnished complete and true particulars of income.....

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....rtaining to previous years ending before the search and such unexplained investment came into light only during the course of search operation and thus, tantamount to concealment of particulars of income within the meaning of Explanation 5 to section 271(1)(c) of the Act. Moreover, the assessee had no valid reason for concealment and furnishing of inaccurate particulars in the belated return file....