“Section 139(4)(c)”

A penalty under section 271(1)(c) for concealment or furnishing inaccurate particulars of income is not automatically leviable merely because a higher income is declared, even after a search or in a voluntarily revised return. The initial burden to prove concealment or inaccurate particulars lies with the Revenue.

The Gujarat High Court holds that the explanation to Section 80-IA(4) of the Income-tax Act, regarding works contracts for infrastructure facilities, is clarificatory and explanatory in nature, not an amendment with retrospective effect. Its vires are upheld as it does not levy tax retrospectively.

There is no legal presumption that every person knows the law, and the maxim 'ignorantia juris non excusat' does not imply universal legal awareness. This principle is applied when evaluating whether a taxpayer's genuine belief or ignorance of law impacts their liability for penalties or constitutes reasonable cause.

An admission made in a statement during search proceedings under Section 132(4) of the Income Tax Act is not considered conclusive proof. Such admissions require corroboration by other independent incriminating material for making additions to income.

A mere technical defect or incorrect provision mentioned in the caption of a penalty notice issued under Section 271AAB does not vitiate the penalty proceedings if the body of the notice makes the intention clear and the assessee understood the charge.

Penalty under section 271(1)(c) can be levied even if the assessee voluntarily discloses income after detection by the department or subsequent to a search, especially when the explanation provided is not bona fide or cannot be substantiated.

For availing deduction under section 80-IA, the 'infrastructure facility' does not necessarily need to be owned by the assessee. The assessee was held to be a developer, eligible for deduction under section 80-IA(4).

Penalty under section 271(1)(c) cannot be levied under Explanation 5A to section 271(1)(c) for income declared in a return filed under section 153C, as Explanation 5A is confined to the searched person and not to persons covered under section 153C. This applies even if no addition is made by the AO to the voluntarily declared income.