https://www.taxtmi.com/caselaws?id=170247 The Tribunal allowed the assessee's appeals, setting aside the penalty under section 271AAA of the Income-tax Act for the assessment years 2009-10 and 2010-11. The Tribunal concluded that since taxes on the surrendered income were paid and no specific questions were asked about the manner of earning the income during the search operation, the penalty was not justified. The penalty was deleted, and the judgment was pronounced on November 18, 2014. en-us Tue, 18 Nov 2014 00:00:00 +0530 Tue, 19 May 2015 17:08:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170247 The Tribunal allowed the assessee's appeals, setting aside the penalty under section 271AAA of the Income-tax Act for the assessment years 2009-10 and 2010-11. The Tribunal concluded that since taxes on the surrendered income were paid and no specific questions were asked about the manner of earning the income during the search operation, the penalty was not justified. The penalty was deleted, and the judgment was pronounced on November 18, 2014. Case-Laws Income Tax Tue, 18 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170247