No penalty though interest & tax on undisclosed income was deposited belatedly

IT: Where assessee made disclosure of undisclosed income in statements recorded under section 132(4) during course of search and had also specified manner in which such income was derived but paid tax in respect of such income belatedly, since there is no time frame prescribed for payment of tax in Explanation 5(2) to section 271(1)(c), assessee was entitled to immunity from penalty under section 271(1)(c)

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