Held that the assessee has accepted the relevant documents as genuine and disclosed additional income in respect of Foreign bank account. Therefore Explanation 5A to section 271(1)(c) is not applicable. Penalty is deleted.(AY. 2006-07 to 2012-13)
Rajinder Kumar v. ACIT (2024) 232 TTJ 261 / 243 DTR 297 / 38 NYPTTJ 776 (Delhi)(Trib)
S. 271(1)(c) : Penalty-Concealment-No incriminating material during search-Additional income declared is accepted-Foreign bank account-Explanation 5A to section 271(1)(c) is not applicable-Penalty is deleted. [S. 153A, Art.]
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