Penalty U/s. 271(1)(c) on Disclosure of income due to search operation 

Brijesh Jaikishin Rupani Vs ITO (ITAT Mumbai)

ITAT Mumbai held that The income offered by assessee in income filed pursuant to issue of notice under section 153A was the income detected during the course of search and seizure operation. The case of assessee was squarely covered by provisions of Explanation 5A to Please become a Premium member. If you are already a Premium member, login here to access the full content.