https://www.taxtmi.com/circulars?id=9156 Application of penalties under section 271(4A) requires genuine voluntary disclosure; penalties and assessments must not be reduced or framed as part of private settlements that grant unlawful concessions to the assessee. Disclosures following search or seizure of unaccounted cash or incriminating documents are not voluntary for penalty mitigation. The Board instructs strict adherence to prior guidance on the meaning of "voluntary" and "disclosure" to prevent unlawful settlement practices. en-us Wed, 25 Jan 1978 00:00:00 +0530 Thu, 02 Jun 2011 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9156 Application of penalties under section 271(4A) requires genuine voluntary disclosure; penalties and assessments must not be reduced or framed as part of private settlements that grant unlawful concessions to the assessee. Disclosures following search or seizure of unaccounted cash or incriminating documents are not voluntary for penalty mitigation. The Board instructs strict adherence to prior guidance on the meaning of "voluntary" and "disclosure" to prevent unlawful settlement practices. Circulars Income Tax Wed, 25 Jan 1978 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9156