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TMI Blog2018 (8) TMI 383X X X X Extracts X X X X X X X X Extracts X X X X ..... .G.Usha Rani, Junior Standing Counsel For the Respondent : Mr.G.Baskar JUDGMENT Heard Mr.T.R.Senthil Kumar, learned Senior Standing Counsel assisted by Mr.S.Rajesh, learned Senior Standing Counsel and M/s.K.G.Usha Rani, learned Junior Standing Counsel for the appellant; and Mr.G.Baskar, learned counsel for the respondent. 2.This tax case appeal has been filed challenging the order of the Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we proceed to consider as to whether the substantial questions of law as framed arise for consideration, we need to take note of the factual position. 5.The learned Senior Standing Counsel appearing for the Revenue vehemently contended that the assessee, in his own statement, had candidly admitted the payment of money towards the purchase of the property, which was not disclosed and this is suffi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es:- "Going through the statement recorded on 4.2.2004, by replying to the question No.6, which has already been reproduced above in this order, we find that the assessee surrendered the same as in his individual unaccounted investment for the current year and he will file the return and his letter dated 29.12.2003 written to the assessing authority also supports this contention. The search took ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances, we set aside the orders of the authorities below and direct the Assessing Officer to delete the penalty" 8.On a perusal of the above decision of the Tribunal, it is evidently clear that the Tribunal reiterated the factual position before it came to the conclusion about the conduct of the assessee and that he is entitled for immunity available under Explanation 5 to Section 271(1)(c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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