https://www.taxtmi.com/caselaws?id=250215 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under section 271(1)(c) for the assessment year 2008-09. The Tribunal found that the incriminating material found during a search operation at the husband's premises, which led to the declaration of additional income in the assessee's name, did not directly implicate the assessee. As the seized promissory notes did not mention the assessee and the income declared by her was accepted without variation, the Tribunal concluded that the penalty was unjustified due to the lack of the assessee's direct involvement in concealing income or providing inaccurate particulars. en-us Fri, 01 Aug 2014 00:00:00 +0530 Wed, 06 Aug 2014 08:43:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250215 The Tribunal ruled in favor of the assessee, deleting the penalty imposed under section 271(1)(c) for the assessment year 2008-09. The Tribunal found that the incriminating material found during a search operation at the husband's premises, which led to the declaration of additional income in the assessee's name, did not directly implicate the assessee. As the seized promissory notes did not mention the assessee and the income declared by her was accepted without variation, the Tribunal concluded that the penalty was unjustified due to the lack of the assessee's direct involvement in concealing income or providing inaccurate particulars. Case-Laws Income Tax Fri, 01 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250215