Mere disclosure of additional income under 153C not concealment of Income

Puthan Purayil Abdurahiman Vs ACIT (ITAT Cochin) The case of Puthan Purayil Abdurahiman vs. ACIT, heard by the Income Tax Appellate Tribunal (ITAT) in Cochin, addresses the levy of a penalty under Section 271(1)(c) of the Income-tax Act, 1961. The appellant, an individual, initially filed a return for the 2013-2014 assessment year. Following a search and seizure operation on the Malabar Group of Companies, which purportedly found incriminating material, the Assessing Officer (AO) issued a notice under Section 153C. In response, the appellant disclosed an additional income, but argued that this...