https://www.taxtmi.com/caselaws?id=256112 The Tribunal upheld the CIT(A)'s decision to delete penalties under Section 271(1)(c) for all assessment years (2000-01 to 2005-06). Penalties imposed by the AO were deemed unjustified as the additional income was voluntarily disclosed during search proceedings and accepted without further inquiry. The Tribunal cited precedents supporting penalty deletion based on voluntary disclosure and the estimated nature of additions. Consequently, all Revenue appeals were dismissed. en-us Thu, 18 Dec 2014 00:00:00 +0530 Wed, 04 Feb 2015 06:19:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256112 The Tribunal upheld the CIT(A)'s decision to delete penalties under Section 271(1)(c) for all assessment years (2000-01 to 2005-06). Penalties imposed by the AO were deemed unjustified as the additional income was voluntarily disclosed during search proceedings and accepted without further inquiry. The Tribunal cited precedents supporting penalty deletion based on voluntary disclosure and the estimated nature of additions. Consequently, all Revenue appeals were dismissed. Case-Laws Income Tax Thu, 18 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256112